14 March 2011
In case the assessee, being Individual or HUF, who is under tax audit for the AY 2010-11 and opts for the scheme U/s 44AD, for the FY 2010-11 he has to comply with the TDS provisions related with specified payments. However, from FY 2011-12, he is not required to deduct TDS if he is not covered by Section 44AB and due to the fact opts 44AD scheme.
In case of firm, the existing provisions will continue to apply.
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