Question ID : 40685

TDS deduction liability

During 2017-18 and 2018-19 A firm was getting Tax Audit done for sale amount around 95 Lacs as Net profit was less than 8% Now in 2019-20 as net profit after Chapter VI deductions will not be taxable after taking 8% profit so tax audit will not be required .Is it correct that firm will not be required to deduct TDS and file TDS returns during current year

posted by Mahesh Kumar on Jun 14 2020 12:00AM