Information about tds on 44ad audit
This query is : Resolved
26 February 2014
Hi,
A firm has audited his accounts in F.Y.2010-11 u/s 44AD under presumptive income(his income is below 8%),now in F.Y.2011-12 his turnover above 60lakh means his a/c's were audited u/s 44AB.
The question is that is the TDS provision is applicable to the firm for F.Y. 2011-12.
Give response as early as possible.
A firm has audited his accounts in F.Y.2010-11 u/s 44AD under presumptive income(his income is below 8%),now in F.Y.2011-12 his turnover above 60lakh means his a/c's were audited u/s 44AB.
The question is that is the TDS provision is applicable to the firm for F.Y. 2011-12.
Give response as early as possible.
26 February 2014
no...the tds provisions provide that 44AB should have applied in the year earlier to the current previous year.
So if you are referring to FY 2011-12, 44AB should have applied to Fy 2010-11.
So if you are referring to FY 2011-12, 44AB should have applied to Fy 2010-11.
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