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Payment of commission by huf to audited properietorship
Hello friends
ONE OFHUF HAS FILED RETURN UNDER 44 AD TILL F.Y. 14-15. NOW HUF'S TURNOVER HAS BEEN INCREASED MORE THAN 1 CRORE SO IT WILL COVER IN AUDIT IN F.Y. 15-16. NOW HUF WANTS TO GIVE COMMISSION TO AUDITED PROPERIETORSHIP FIRM IN F.Y. 2015-16. WHETHER HUF IS LIABLE TO DEDUCT TDS DURING F.Y. 2015-16.
PLEASE GUIDE
Replies (1)
Liable to deduct T.D.S depends upon whether deductor was liable to tax audit u/s.44AB during Prceeding Financial year or Not but not Deductee's Tax audit status. Since H.U.F offered Presumptive Income u/s.44AD (assume H.U.F offered either 8% or More as Presumptive Income during Preceeding Financial year) and not liable to tax audit u/s.44AB, You can not liable to deduct T.D.S on payments of Commission to Audited Firm
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