Tds on salary incomes

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744 Points Posted on 26 July 2023
proprietor firm under section 44ad

paid to salary 300000 p.a. to person
who filed itr

we r liable to deduct tds

thanks in advance
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On 26 July 2023 at 17:55 Report
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This discussion clarifies TDS obligations for proprietor firms paying salaries. If your firm operates under Section 44AD and paid an individual £300,000 per annum in salary, you might need to deduct TDS. However, if the firm's turnover in the preceding year was below £1 crore, and considering standard deductions, a TDS liability may not arise.

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SEO Sai Gr. Hosp.
212503 Points Posted on 26 July 2023

What was turnover of the firm in preceding year?

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On 26 July 2023 at 19:34
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744 Points Posted on 26 July 2023
Below 1 cr
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On 26 July 2023 at 21:01
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SEO Sai Gr. Hosp.
212503 Points Posted on 26 July 2023

TDS liability doesn't arise considering standard deduction.

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On 26 July 2023 at 21:33

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