Tds applicablity on pvt ltd below tax audit t/o
This query is : Resolved
srinivas Ganesh Shet
(Querist)
06 May 2012
namaste all,
please clarify
a pvt ltd co(publication co) having t/o below 30 lakhs 1) are they required to deduct tds while making payments for contracts,techincal consultancy ect,,
2)are they required to tax audit (44AB)
please clarify
a pvt ltd co(publication co) having t/o below 30 lakhs 1) are they required to deduct tds while making payments for contracts,techincal consultancy ect,,
2)are they required to tax audit (44AB)
06 May 2012
Every Company whether they fall within the ambit of Tax Audit or not are required to deduct TDS.
Since turnover is below 30 lacs Tax Audit not required.
Since turnover is below 30 lacs Tax Audit not required.
CA Prashant Gupta
(Expert)
06 May 2012
Yes, tds should be deducted.
No need to tax audit if turnover is below 60 lacs in FY 2011-12.
No need to tax audit if turnover is below 60 lacs in FY 2011-12.
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