44ad and tds urgent
This query is : Resolved
manohar pawar
(Querist)
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.
CA PARAS BAFNA
(Expert)
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.
.
.
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