TDS
This query is : Resolved
08 June 2009
Is it mandatory to deduct the Tax (TDS) in case where
1) the assesse is a partnership firm and having turnover below 40 lakhs
2) in case the assesse is a partnership firm, having turover below 40 lakhs and the assesse is opting presumptive tax under Sec.44 AD (Deemed profit @ 8% of turnover)
1) the assesse is a partnership firm and having turnover below 40 lakhs
2) in case the assesse is a partnership firm, having turover below 40 lakhs and the assesse is opting presumptive tax under Sec.44 AD (Deemed profit @ 8% of turnover)
08 June 2009
Yes in both cases.
Turnover limit is applicable to Indivisual & HUF only and not to Partnership Firm.
Assessment of Income has not nothing to do with deduction of TDS.
Turnover limit is applicable to Indivisual & HUF only and not to Partnership Firm.
Assessment of Income has not nothing to do with deduction of TDS.
08 June 2009
Agreed with the expert.
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