Tds applicability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2015 Dear all
i have two Query regarding Tds applicability,

(1) a proprietorship firm was audited because it's profit was below 8%. does this proprietor ship firm is liable to obtain Tan No and deduct TDs.
(2) A non registered partnership is also liable to obtain the tan NO and deduct TDS

do clarify..

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 March 2015 1) No. Not required to obtain TAN and deduct TDS. Audit u/s 44AB is the criteria.
2) Yes. All partnership firms are required to obtain TAN and deduct TDS. No exemption to unregistered partnership firm.