Liable to deduct tds or not ?

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zeal sheth (Querist)
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09 August 2009 A partnership Firm wihch is not auditable is liable to deduct tds on rent and contrace paid to party or not ?
and if answer is yes then he paid rent 24000 p.m. to owners (Three h.u.f) then should he deduct equal amt. of tds or is it ok to deduct tds amt from the one of the three owner of hte property

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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09 August 2009 if the firm is not liable for audit in the previous year than he is not liable to deduct tds...

CA Suresh Choudhary

CA Suresh Choudhary (Expert)
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09 August 2009 Agree

Shyam Lal Naik

Shyam Lal Naik (Expert)
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09 August 2009 Firm is required to deduct TDS, whether or not liable to tax audit in the immediately previous financial year. Such an exemption is available to an indivisual and HUF.

Unable to opine on your second part of the question, as it is a question of facts.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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09 August 2009 As far as the 1st part of the query is concerned Mr. shyam's view is correct.

For the 2nd part of the query u may check question no 21 of CBDT Circular NO 715 reported in 214 ITR (St) 16 and ascertain whether your case fit into the situation referred therein.

zeal sheth

zeal sheth (Querist)
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09 August 2009 Expert opinion is also different. any wany guys thanks to all

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