Sir,
Whether an individual liable to deduct TDS if he is in audit u/s 44AB for the purpose of section 44AD??
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Tds liability for individual
Replies (2)
Not liable to deduct TDS u/s 194A, 194C,194H, 194I and 194J
Individual / H.U.F are liable to deduct T.D.S .if their turnover exceed Limit specified u/s 44AB in previous financial year.A person come under 44AB through sec 44AD need not to deduct T.D.S because no person can opt for sec44AD if his turnover exceeds limit specified u/s 44AB.Nevertheless through 44AD(If he opt to offer less than 8% of his turnover during current year and his income exceed maximum amount not chargeable to tax as per Income tax act,1956),
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