Liable to deduct tds

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157 Points Joined February 2019
if a partnership firm having professional receipts less than 50 lac but get audited u/s 44AB(d) should he take tan no. will he be liable to deduct tds
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On 09 February 2023 at 08:07 Report
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Chartered Accountant
86505 Points Joined April 2011
TDS applicable only if turnover exceeds 1 crore
3 Reply
On 09 February 2023 at 08:21
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157 Points Joined February 2019
But this is partnership firm not ind. or HUF
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On 09 February 2023 at 08:22
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GST Practitioner & Accounts
15022 Points Joined March 2014
Yes, turnover 1 Crore applicable to Individual HUF , so TAN is required for partnership firm.
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On 09 February 2023 at 08:52
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GST Practitioner & Accounts
15022 Points Joined March 2014

Apply  in form 49B  for TAN  , and wait  for other reply also .  

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On 09 February 2023 at 09:12
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Chartered Accountant
86505 Points Joined April 2011
Form partnership also TDS required only after 1 crore
2 Reply
On 09 February 2023 at 11:03
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12244 Points Joined May 2017
Turnover limits for liability to deduct TDS is applicable only to individuals and hufs
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On 10 February 2023 at 01:34
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Chartered Accountant
86505 Points Joined April 2011
Agreed with ramakrishnan sir , TDS limit applicable to individual or HUF not for partnership.
2 Reply
On 10 February 2023 at 10:23


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