Audit report

This query is : Resolved

alpesh (Querist)
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19 January 2016 Dear sir may clients had audited under sec 44ab but sir in current year if he made any payment to party for purchase of materials in this case TDs applicable or not...

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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19 January 2016 No TDS for' purchase of materials' irrespective of audited or not.

alpesh

alpesh (Querist)
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19 January 2016 In this case he can audit under section 44AD but his sales of Rs 25298766

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KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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19 January 2016 You will come Under Tax Audit u/s 44AB not u/s 44AD Since you have Gross Turnover Exceeded Rs.1 Crore. Purchase of Material Not attract TDS , TDs attract only on Labour / Job Work / Contract/Professional Fees/Rent.
Mere Purchase / Sales not attract TDS.