TDS
This query is : Resolved
sunita jain
(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
08 May 2009
Tax need not be deducted.
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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