TDS on partnership firm

This query is : Resolved 
 

(Querist)
09 October 2007

I would like know are partnership firm liable to deduct TDS even if their turnover doea not exceed 40 lacs?


CMA Gul S (Expert)
09 October 2007

Hi Samir,

TDS has nothing to do with the Turnover. it is the payment limits with various sections for TDS

CMA Gul S (Expert)
09 October 2007

:)

Ravikumar.G (Expert)
09 October 2007

As for as HUF and Individuals are concerned, TDS is applicable only in case of TAX Audit (Sec 44AB). But partnership is concerned, TDS is to be deducted irrespective of the Turnover.

CMA Gul S (Expert)
10 October 2007

Thanks for the detailed information Mr Ravi Sir

KAAPIL (Expert)
14 November 2007

Very useful.



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