Whether person having turnober above 1 crore declaring profit u/s 44AD 8% above during F.Y. 2017-18, is liable to deduct tds during F.Y 2018-19?
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Tds provision applicability
Replies (2)
yes it is necessary to deduct tds
in case of an assessee adopting the presumptive taxation
scheme of section 44AD, no disallowance under sections 40, 40A and 43B will apply which means even if you do not deduct tax no disallowance will be done... no need to deduct tax
scheme of section 44AD, no disallowance under sections 40, 40A and 43B will apply which means even if you do not deduct tax no disallowance will be done... no need to deduct tax
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