Tds applicability under section 44ad
This query is : Resolved
07 November 2014
A Partnership firm is under Tax audit in AY 13-14 but in AY 14-15 turnover is less than 1 Cr and intended to disclose profit under section 44AD 8% without Tax audit. but question is that if some of payment by cheque is nature of TDS and TDS is required to deducted on that amount i.e contract payment, interest etc.??
07 November 2014
yes you are required to deduct TDS. Please note firms are required to deduct TDS irrespective of the turnover.
07 November 2014
yes you are required to deduct TDS. Please note firms are required to deduct TDS irrespective of the turnover.
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