Poonawalla fincorps
Poonawalla fincorps

Tds

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(Querist)
22 October 2015 Is partnership firm is liable for TDS for first year of business ??
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
22 October 2015 Yes. Partnership firms are required to deduct TDS (Subject to threshold limit under respective section) from the very begining irrespective of applicability of Tax Audit u/s 44AB.

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