Tds applicability in partnership firm

Save Share

This query is : Resolved

Quick Summary

A partnership firm making telecom-related payments (internet, mobile, etc.) must evaluate TDS applicability carefully. Generally, TDS under Section 194C may apply for contract payments, but telecom bills are often excluded. Firms covered under audit must deduct TDS and obtain TAN.

trupesh

trupesh (Querist)

19 December 2014 i want to know that i am a partner of partnership firm and having a turnover of RS 1000000,
currently i am paying amount of a contract Rs 210000 to my service provider (covered under telecommunication service) so tell me should i deduct TDS ?? AND at what Rate ???

Amol S Joglekar

Amol S Joglekar (Expert)

19 December 2014 You need to deduct TDS.
Apply for TAN in the first place.

CA Kumar Mukesh

CA Kumar Mukesh (Expert)

19 December 2014 TDS required to be deduct by firm in all cases under section 194C.

However, no TDS required to be under by individual if he is not covered under tax audit 44AB

Rupesh Jain

Rupesh Jain (Expert)

20 December 2014 of telecommunication bill like internet, mobile bill, telephone bill etc.not required to deduct the tds u/s 194C.

you are partnership firm. if you pay any amount which is required to deduct the tds then you have to deduct the tds w/o considering sales amount.
and you have to apply for tan due to partnership have no exemption for deducting TDS.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now