Is there is any minimum limit for deducting tax on Freight
for example : If freight charges are Rs 5000. Then we will deduct the tax or not?
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TDS on freight paid
Replies (4)
limit is 20000 per bill and 50000 overall per year.
I have 2 doubts
1.) A partnership firm having turnover of Rs. 19 Lakhs, but on 31-3 there is a net loss then whether tax audit is mandatory.
2.) return filed on 31-07-2008 of A.Y. 07-08 then what is the time limit for issuing the notice for scrutiny, cause we have received notice in this month.
| " | I have 2 doubts 1.) A partnership firm having turnover of Rs. 19 Lakhs, but on 31-3 there is a net loss then whether tax audit is mandatory. 2.) return filed on 31-07-2007 of A.Y. 07-08 then what is the time limit for issuing the notice for scrutiny, cause we have received notice in this month. |
" |
earlier by mistake written 2008
1) tax audit is not mandatory for you
2) notice can be issued till end of 1 year from end of assessment year
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