A proprietary concern(Assume a CA ) was liable for tax audit for A Y 2011-12 and A Y 2012 13. After increase in Audit limit the firm has no tax audit in last A.Y. Please tell me whether the prop firm is Liable to deduct TDS in the next financial years
15 October 2013
The audit tax liability is to be seen only in case of Individual and firm for preceeding prev year and this is not applicable for CA firm.
If tds as per applicable provisions is applicable then tds need to be deducted.