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TDS applicability if ITR filed us.44AD
my turnover is above 1 cr. but i filed ITR us. 44AD so i am not audited my books of accounts, i have liable to TDS deduction for next year or exclude being filled us. 44AD? please gave me reply with IT section
Replies (2)
Yes, TDS liability arises as exemption is only for individuals/huf, if turnover do not exceed as per sec. 44AB (1)& (2).
IF YOUR INDIVIDUAL OR HUF AND YOUR T/O IN PY. EXCEED RS. 1CR OR GROSS RCEIPT EXCEED 50LAKH THEN YOU NEED TO DEDUCT TDS EVEN IF YOU GET YOUR BOOKS AUDITED UNDERR SEC.44AD
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