in a sole proprietor firm, book profit comes to less then presumptive income i.e. less than 8%, so it have to get its books audited u/s 44AD, is he liable to deduct TDS for payments? are rules of TDS applied to him same as audit u/s 44AB?
RAKSHIT MEHTA (tax consultant) (114 Points)
26 March 2017in a sole proprietor firm, book profit comes to less then presumptive income i.e. less than 8%, so it have to get its books audited u/s 44AD, is he liable to deduct TDS for payments? are rules of TDS applied to him same as audit u/s 44AB?
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
