44ad and tds urgent
This query is : Resolved
24 July 2013
Hi,
My client has partnership firm and turn Over in F.Y- 11-12 Rs 80 Lac. they has done Tax Audit Producer. 1st time Tax audit in F.Y. 2011-12 so TDS is not Deducted of their Tax Practitioner.
Now F.Y- 2012-13 their turn over is again 81 Lacs. He dose not cross the Turn over limit.
1 can i show is income under section 44AD ?
2. He made Payment to Labour Contractor. he dose not deducted TDS. TDS is compulsory to Deducted from Contractor. TDS provision is Applicable or Not
My client has partnership firm and turn Over in F.Y- 11-12 Rs 80 Lac. they has done Tax Audit Producer. 1st time Tax audit in F.Y. 2011-12 so TDS is not Deducted of their Tax Practitioner.
Now F.Y- 2012-13 their turn over is again 81 Lacs. He dose not cross the Turn over limit.
1 can i show is income under section 44AD ?
2. He made Payment to Labour Contractor. he dose not deducted TDS. TDS is compulsory to Deducted from Contractor. TDS provision is Applicable or Not
24 July 2013
ans1 yes u can show income as per sec 44AD.
ans2 yes, under sec 194C iable to deduct TDS for making payment to contractor.
ans2 yes, under sec 194C iable to deduct TDS for making payment to contractor.
24 July 2013
Partnership firm is liable to deduct tax irrespective of the fact -whether it was under tax audit or not. I completely agree with the expert.
.
.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Long Term Service award taxability in hands of company
- BIS Certificates
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- Procedure for claiming exemption in Article Ship for CA Course
- ITR 2 Short Term gain & Long term gain
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
