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Tds for partnership business
There is a partnership firm which is not liable to audit under sec 44AB in F.Y. 12-13.In f.y. 13-14 it is liable to audit under 44AB and firm has paid 250000 as rent of building. Whether TDS is required to be made on rent where firm is liable to audit very first time ?
Replies (3)
Deven ,
In my opinion 44AB is to be considered in case of individual & HUF.
entities other than individual & HUF must deduct TDS on rent irrespective of the Tax audit conditions.
Thanx saloni😊
saloni answered it correctly.
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