Tds
This query is : Resolved
27 July 2013
A proprietor ship which have three branch and liable for tax audit under section 44AB of income tax act two branches of which book legal and professional fee of rs. 30000 each of same parties i. e architecture but tds not deducted any of them, is tds required to be deducted from the same transaction?
27 July 2013
Yes. TDS need to deduct since the individual covered under sec.44AB. non deduction of tds leads disallowance of particular expenses and penalty also
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