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
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