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TDS

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(Querist)
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)
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
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.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
08 June 2009 Agreed with the expert.
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