Poonawalla fincorps
Poonawalla fincorps

Tds

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(Querist)
16 April 2015 Weather TDS required to be deduct by proprietor on Interest of car loan taken from NBFC? Option 1- If Proprietorship firm liable for Audit?
Option 2- If firm liable for Audit u/s 44AD for non maintaining minimum profit?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
16 April 2015 option-1: TDS required to deduct since he is liable for audit

Option-2:Incase non maintaining of minimum profit as per sec.44AD, then audit u/s.44AB will apply, this case also TDS need to be deducted

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