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Tcs deduction in case of auditee assesseu/s 44ad

This query is : Resolved 
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(Querist)
24 July 2013
DEAR SIR,

OUR CLIENT HAS COAL BUSINESS AND LAST YEAR HIS ANNUAL TURNOVER IS LESS THAN 60 LACS BUT HIS ACCOUNTS IS AUDITED U/S 44AD FOR LOWER INCOME DECLARATION THAN 8%. NOW I WANT TO CLAR WHETHER HE HAS TO DEDUCT TCS AND DEPOSIT THE SAME IN CASE OF SALE OF COAL.AS BCCL IS DEDUCTIING TCS IN CASE OF SALE OF COAL TO CLIENT. PLEASE CLEAR IT.

THANKS & REGARDS

CA C.P. BURNWAL
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
24 July 2013 You will appreciate the fact that audit U/s 44AD is conducted under clause (d) of Section 44AB, whereas the TCS/TDS liability arises by virtue of clause (a) and (b) only.
.
So, there is no need to deduct TCS ..
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