First year 44ab audit tds provisions applicability

This query is : Resolved 

28 September 2011
one of my clients covered under 44ab audit

in first year of business. whether 194a tds

provision are applicable or not.

28 September 2011 Not applicable by virtue of the proviso to section 194A(1).

28 September 2011 The proviso is applicable only to an individual & HUF.

In case of persons other than individuals & HUF, Section 194A will be applicable and TDS will have to be deducted.




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