Tds for partnership business
This query is : Resolved
05 August 2014
There is a partnership firm which is not liable to audit under sec 44AB in F.Y. 12-13.In f.y. 13-14 it is liable to audit under 44AB and firm has paid 250000 as rent of building. Whether TDS is required to be made on rent where firm is liable to audit very first time ?
CA PRIYUL SHAH
(Expert)
05 August 2014
It is required to deduct TDS for partnership firm irrespective of audit liability.
Relief is just given to Individual & HUF not covered under audit.
Relief is just given to Individual & HUF not covered under audit.
05 August 2014
yes as this privilige is only with ind and huf, tds needs to be deducted.
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