Tds responsibility for audits u/s.44ab clause d

Save Share

This query is : Resolved

Jigish Sheth (Querist)

17 September 2014 THE ASSESSEE IS AN INDIVIDUAL INTO BUSINESS.
HIS TURNOVER FOR F.Y.2013-14 IS LESS THAN 1CR.
HE HAS SHOWN NP OF LESS THAN 8%
HE WILL GET HIS ACCOUNTS AUDITED U/S. 44AB(d)

will he require to deduct TDS in F.Y.2014-15 on various payments

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

17 September 2014 he needs to get audit u/s 44AD and no tds provisions are applicable.

Message likes : 1 times

Nikhil Kaushik

Nikhil Kaushik (Expert)

17 September 2014 no. TDS provisions dont apply.

Nikhil Kaushik

Nikhil Kaushik (Expert)

17 September 2014 TDS provisions apply only where the turnover limits under clause (a) or clause (b) of section 44AB during the financial year immediately preceding the financial year in which such sum by way of fees for professional services or technical services is credited or paid, are exceeded.

the audit for 44AD cases is conduced under clause (d) of section 44AB. So TDS provisions don't apply to you.

Message likes : 1 times

Jigish Sheth

Jigish Sheth (Querist)

17 September 2014 Thanks all for your help.

Nikhil Kaushik

Nikhil Kaushik (Expert)

17 September 2014 welcome Seth....take care...

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