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Question ID : 40437

TDS matters

A firm's turnover during 2018-19 is 90 lacs (< 1 crore) It is getting tax audit done as net profit is less than 8%. it is paying Interest to a NBF Company. Whether it is required to deduct TDS or not

Posted by Mahesh Kumar on Oct 20, 2019

Filed Under AUDIT

Answer ID : 80213

In the present case, TDS provisions will be applicable for the next year

Posted by AJAY JAIN on Oct 20, 2019
Answer ID : 80251

In the case of any assessee other than an individual or a HUF, I has to deduct taxu/s 194A irrespective of its turnover in the preceding year irrespective of the applicability of tax audit.

Posted by D SANTHANAM on Nov 18, 2019
Answer ID : 80268

Since Given case is of a partnership firm TDS shall be applicable irrespective of the Turnover.

Posted by Ashish Kumar Goyal on Nov 27, 2019