Whether Individual or HUF is liable to deduct TDS when the assessee opts for 44AD and liable to audit as the income declared is less than 8%.
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Tds & 44ad
Replies (3)
If liable for audit, then yes.
TDS liability for an Indl or HUF comes only if the person exceed the monetary limit mentioned in 44AB.
So if an indl has a turnover of less than 60 lacs & opts for Sec 44AD & audit, he is not liable for TDS.
The provisos to TDS sections clearly says that monetary limits mentioned in 44AB has to exceed to make an Indl or HUF liable.
TDS liability for an Indl or HUF comes only if the person exceed the monetary limit mentioned in 44AB.
So if an indl has a turnover of less than 60 lacs & opts for Sec 44AD & audit, he is not liable for TDS.
The provisos to TDS sections clearly says that monetary limits mentioned in 44AB has to exceed to make an Indl or HUF liable.
in case of Company or firm TDS is applicable whether audit is applicable or not.
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