Tds

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Managing Partner
24 Points Joined July 2011

If a partnership firm is not under tax Audit (Sec 44AB) is it required to deduct TDS on Contract Payments ?

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On 27 July 2011 at 12:26 Report
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CA Final Student
116 Points Joined October 2009

There is no connection for deduction of TDS with Tax Audit.

If the limit specified for TDS on contarct exceeds {which is Rs. 20,000(50,000 in a year) upto 30.6.2010 and Rs. 30,000 (75,000 in a year)} then it is necessary to deduct.

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On 27 July 2011 at 12:31
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C.A Final Student
472 Points Joined July 2011
agreed witi mr. Jitender..
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On 27 July 2011 at 14:33
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CA Final Student
116 Points Joined October 2009

Excuse me, Pahuja

Jitendra is my father's name.........Mu name is Urvi & I m a female........

Think before u write........................ 

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On 27 July 2011 at 14:57
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Chartered Accountant
239 Points Joined June 2009
Originally posted by : urvi jitendra bhavsar

There is no connection for deduction of TDS with Tax Audit.

If the limit specified for TDS on contarct exceeds {which is20,000(50,000 in a year) upto 30.6.2010 and30,000 (75,000 in a year)} then it is necessary to deduct.


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On 27 July 2011 at 15:17
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Assistant Manager Taxation
508 Points Joined March 2008

undoubtedly, there is a connection between tds deduction & tax audit..but this is applicable for individuals,HUF, AOP,BOI..not for firms.. hence, in the said case, TDS is deductible if the sum exceeds the threshold.

 

Regards-

Abhiram

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On 27 July 2011 at 16:48
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Chartered Accountant
857 Points Joined January 2009
Originally posted by : CA Abhiram Bharat.

undoubtedly, there is a connection between tds deduction & tax audit..but this is applicable for individuals,HUF, AOP,BOI..not for firms.. hence, in the said case, TDS is deductible if the sum exceeds the threshold.

 

Regards-

Abhiram
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On 27 July 2011 at 16:52
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student
129 Points Joined January 2011
As per tds provision on partnership firm.. there is no connection between audit and tds provision firm needs to deduct tds where ever applicable
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On 27 July 2011 at 21:59
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Practising CA
223 Points Joined July 2008

 

Agreed....

"undoubtedly, there is a connection between tds deduction & tax audit..but this is applicable for individuals,HUF, AOP,BOI..not for firms.. hence, in the said case, TDS is deductible if the sum exceeds the threshold."

 

Regards-

Abhiram

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On 27 July 2011 at 22:53
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C.A Final Student
472 Points Joined July 2011
Ms. Urvi i am extremely sorry to you, my purpose was not to hurt you or your feeling. Thanks and regards Suraj Pahuja.
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On 28 July 2011 at 00:12
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don't make exuse for study
304 Points Joined September 2007

there is no link between tax audit and TDS deduction  TDS will be deduct on all applicable trancation in case of contract basic condition is your all business with firm is exceed 70000.00 and a single bill more than 30000.00 TDS will be deduct on contact issue

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On 28 July 2011 at 14:10


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