Tds applicability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 March 2015
Dear all
i have two Query regarding Tds applicability,
(1) a proprietorship firm was audited because it's profit was below 8%. does this proprietor ship firm is liable to obtain Tan No and deduct TDs.
(2) A non registered partnership is also liable to obtain the tan NO and deduct TDS
do clarify..
i have two Query regarding Tds applicability,
(1) a proprietorship firm was audited because it's profit was below 8%. does this proprietor ship firm is liable to obtain Tan No and deduct TDs.
(2) A non registered partnership is also liable to obtain the tan NO and deduct TDS
do clarify..
21 March 2015
1) No. Not required to obtain TAN and deduct TDS. Audit u/s 44AB is the criteria.
2) Yes. All partnership firms are required to obtain TAN and deduct TDS. No exemption to unregistered partnership firm.
2) Yes. All partnership firms are required to obtain TAN and deduct TDS. No exemption to unregistered partnership firm.
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