10 July 2010
I have 2 queries 1. Firstly can Partnership firm deduct tds, or only the partnership firm which is required to audited as per law is required to deductTDS?
2. sir plz say who can dedect TDS .i.e individul,P'firm and company and also wtz the time limit for issue of TDS certificate for Fin.yr 2009-10?
10 July 2010
1). Partnership firm has to deduct tax under sections 192,194A,194BB,194C,194G,194H,194I,194J.
2). Individuals has to deduct tax under sections 194A(1),194H,194I,194J(1) if and only if they are covered under section 44AB(a)/(b) during the financial year immediately preceding the financial year in which the sum referred in the said sections are paid or credited to the deductee.