If a partnership firm is not under tax Audit (Sec 44AB) is it required to deduct TDS on Contract Payments ?
Menu
Tds
Replies (10)
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.
agreed witi mr. Jitender..
Excuse me, Pahuja
Jitendra is my father's name.........Mu name is Urvi & I m a female........
Think before u write........................
| 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. |
 |
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
| 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 |
|
As per tds provision on partnership firm..
there is no connection between audit and tds provision
firm needs to deduct tds where ever applicable
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
Ms. Urvi i am extremely sorry to you, my purpose was not to hurt you or your feeling. Thanks and regards Suraj Pahuja.
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
Recent Topics :
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
Related Topics :
CAclubindia
