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TDS provision
Tax audit was done for the AY 2017 2018 in case of proprietor of a firm and now for 2018 2019 AY Tax audit will not be applicable due to low turnover. Whether TDS needs to be deducted or we can File itr u/s 44AD ?
Replies (2)
However, an Individual or HUF who is liable to tax audit during the financial year immediately preceding the financial year in which such sum is credited or paid, shall deduct tax .
Yes needs to be deducted as turnover of previous financial year is seen.
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