tax dededtion at source
This query is : Resolved
25 May 2008
a proprietorship firm was under tax audit u/s 44AB (because his net profit was below 8% of turnover under costruction business {u/s 44AD}) in the previous year. whether it compulsory for him to deduct tds this year
25 May 2008
The TDS liability has nothing to do with 44AD. Can you make ur question more clear?
26 May 2008
my qurey is that an individual was under tax aundit in the previous year. he is engaged in construction business. net profit in the previous year was below 8% of the turnover. that is why he has to get his accounts audited u/s 44AB. My query is whethr he is obliged to deduct tax at source u/s 94C during the year.
26 May 2008
No he is not rqrd to deduct TDS, since in the p.y his gross receipts or turnover did not exceed Rs.40lacs.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- Fixe term employment
- GST ITC REVERSE
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Section 50-fixed asset-->building ceases to exist
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Need Professional Opinion AY 2012-13 Old Demand
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
