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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 ?

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.

05 August 2014 yes as this privilige is only with ind and huf, tds needs to be deducted.


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