Tds turnover limit

This discussion clarifies the TDS turnover limit for partnership firms for the financial year 2023-24. It explains that the TDS provision applies irrespective of whether the firm is covered under Section 44AB audit. The relevant limits are determined by specific TDS sections, not the firm's overall turnover. New firms must deduct TDS from the outset on payments to contractors, professionals, and employees if these exceed the stipulated limits.