Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 August 2018 Whether TDS on Interest etc is required to be deducted in case of Tax Audit of a firm done due to NP below 8% of Turnover ? However the turnover is below 1 crore.


27 August 2018 No, TDS provisions not applicable in case of 44AD tax audit case.

27 August 2018 Audit based TDS provisions is applicable to individual payees's only. Hence firm's
has to deduct if threshold limit is crossed.


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Querist : Anonymous

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Querist : Anonymous (Querist)
27 August 2018 Turnover is below 1 crore in case of partnership firm but tax audit is being done due to NP below 8%.
So there is no need to deduct TDS on interest on unsecured loans.
Is it correct ?

27 August 2018 Not correct firm has to deduct TDS iirespective of turnover.

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 August 2018 Bur Sir CA R SEETHARAMAN
You have earlier said that
No, TDS provisions not applicable in case of 44AD tax audit case.

What is the correct view sir,

27 August 2018 Earlier view is for individual, in case of firm later view is right.



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