1) A and Co a prop concern for the year ended 31.3.13 ends up in loss. Turnover is 54 lacs.
Is tax audit applicable ?
They have made one single chq payment to advertising agency with out deducting tax. How this will be reported and does this make any change is computation statement ?
2) Instead of a prop concern, if the above is an AOP and there is excess of income over expenditure, is TDS applicable on the adv expenses paid ?
No they are not liable for tax audit, so individual is also not liable to deduct TDS. So, no issues at all. Also, no change in comp.
No they are not liable for tax audit, so individual is also not liable to deduct TDS. So, no issues at all. Also, no change in computation.
It is not liable for Tax Audit. As it is not liable for Tax audit, no need to deduct Tax at source. Same thing was applicable to AOP also...
tax audit is not applicable..
so no need to deduct tax.
same in the case of AOP
If account is audited in previous year u/s 44AD then TDS provision is apllied or not ?
| Originally posted by : chandrika | ||
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tax audit is not applicable.. so no need to deduct tax. same in the case of AOP |
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Agreed
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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