27 March 2024
Respected Sir/Madam, If Individual person filed ITR of AY 2022-23 and AY 2023-24 under Presumptive Basis u/s 44AD and his turnover 1.25 Crore and 1.33 crore respectively, Now in AY 2024-25 his turnover exceeds 10 crore now tax audit compulsory for him.
My ques is, whether Individual assessee liable to deduct TDS on expenditure booked in AY 2024-25 because in his 2 previous ITRs of AY 2022-23 & AY 2023-24 there is no audit case and we didn't deduct TDS, but turnover exceeds 1 crore
CAclubindia
