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TDS deduction liablity
there is a housing soceity, Association of person. they have not done audit ever. turnover ia 20 lakhs,. they are paying rs 75000 per month to security services. are they required to deduct TDS?
Replies (1)
Yes, As per the Income Tax Act, a Cooperative Housing Society is taxable entity. It is mandatory for any registered co-operative housing society / apartment association to deduct TDS, pay deducted TDS to Government on time, file TDS Returns on time and issue TDS certificates to deductees on time.
So, in Your case Society/AOP are required to deduct TDS u/s 194C from payment made to security service provider.
So, in Your case Society/AOP are required to deduct TDS u/s 194C from payment made to security service provider.
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