Query related to tds
This query is : Resolved
06 June 2013
A person whose income come under section 44AD but his is income below 8% then his books are going to audit under sec 44AB.
According to 194C whose audit to be done under sec 44AB has to deduct the tds(no monetary limits words has been mentioned.
So a person whose gross turnover below 1 crore have deduct TDS or not?????
According to 194C whose audit to be done under sec 44AB has to deduct the tds(no monetary limits words has been mentioned.
So a person whose gross turnover below 1 crore have deduct TDS or not?????
06 June 2013
Please refer Clause (a) and Clause (b) of Section 44AB for the monetary limits.
Section 194C is applicable to only such Individuals and HUFs whose turnover or gross receipt exceeds the prescribed limit.
.
Whereas the person referred by you is covered under Clause (d) of Section 44AB, and as such Section 194C does not applies to such persons.
Section 194C is applicable to only such Individuals and HUFs whose turnover or gross receipt exceeds the prescribed limit.
.
Whereas the person referred by you is covered under Clause (d) of Section 44AB, and as such Section 194C does not applies to such persons.
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