What is the TO limit for TDS application for Firms?

Mr.Indudhar

As far as provisions under chapter XVII are concerned, partnership firms are covered i.e. as per the prevailinging provisions of each section  a  partnership firm  is liable to deduct tax at source irrespective of the fact that the said firm is liable to get its accounts audited as per the provisions of section 44AB.

Firm is coverred under the definition of 'person'  under sectin 2(31).

Best Wishes

Sathiknda

hello

40 lakh limit is for individual nd huf ...... partnership fim is always liable to deduct tds

As per the provisions of the Act, Companies, firms and those persons who are required to get their books audited u/s 44AB of the Income Tax Act, should deduct the tax at source. Therefore the Companies and Firms has to deduct tax at source, irrespective of their TO limit.

Sathikonda Anumanchipalli, Yashpreet and Sandeep are dead right

Irrespective of the TO the firm has to deduct TDS