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applicability of TDS provisions for non tax audit filers
is it mandatory for a person not filing under 44AB to deduct TDS on interest paid in excess of limit u/s 194A..???
Replies (3)
If person is not covered under 44ab the he is not required to deduct tds. Logic- he is said to be small businessman and he should be exempted from TDS deduction, payment and related compliance. suppose i am a small shopkeeper and taken loan from friend for business. It will be a burden for me to comply with tds provision.
No, Not liable.
individual and Huf if tax audit is not applicable are not required to comply with the TDS provisions
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