09 July 2009
A proprietory concern which was liable for tax audit for the year 2007-08, deducted TDS on payments made by it for the year 2008-09. However, for the year 2008-09, the turnover was less than Rs.40 Lacs. Hence, it was not liable for tax audit. Is this proprietory concern required to deduct TDS in the year 2009-10?
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