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TDS

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(Querist)
08 May 2009 If an individual purchase a business concern which was audited u/s 44 AB last year , whether this year the said individual is liable to deduct the TDS if none of his business firm was tax audited last year
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
08 May 2009 Tax need not be deducted.
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taxindiaconnect

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taxindiaconnect (Expert)
09 May 2009 The Provisions apply to the business and not to the individual. A business purchased duing the year where the tax audit was applicable, in current year TDS is liable to be deducted. Agreed with B.C.
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