Regarding 44 ab
This query is : Resolved
Chetan jumani
(Querist)
15 October 2015
dear member we have partnership firm started from 1 may 2015 and our turnover cross 1 crore in our case can we get exemption from TDs as per section 44 ab please guide
15 October 2015
For partnership firms that exemption is not available You have to charge TDS from day one irrespective of whether your case is tax audit or not.
15 October 2015
Turnover based exemption from TDS provisions is applicable ONLY for INDIVIDUALS and HUF.
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