Liable to deduct tds

This discussion clarifies TDS deduction liabilities for partnership firms, particularly those audited under Section 44AB(d). It highlights that the £1 crore turnover threshold for TDS applicability generally applies to individuals and HUFs, not partnership firms. Therefore, a partnership firm may still need a TAN number and be liable for TDS deductions even if professional receipts are below £50 lakh, especially if audited.