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Mandates on Deducting TDS

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(Querist)
17 March 2010 Dear Sir,
We have a new Partnership firm constituted in May 2009. we are traders.
Now is it mandate to deduct TDS on payments we have made in this FY 09-10. on Commssn, Interest, Salary etc. We do not have TIN no. nor we have applied till now.
Also this year we will not be audited. As sales will be below 40 Lacs.

Please respond immediately
Kapish
eliteinfraassociates@gmail.com
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Kapish Poddar

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Kapish Poddar (Querist)
17 March 2010 pleae reply

We have a new Partnership firm constituted in May 2009. we are traders.
Now is it mandate to deduct TDS on payments we have made in this FY 09-10. on Commssn, Interest, Salary etc. We do not have TIN no. nor we have applied till now. FY09-10 sale - 25 lac
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
17 March 2010 for every firm tds ded'n is compulsory, turnover is no criteria for firms.

so deduct tds and as early as possible take TAN no.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
17 March 2010 Agree.TDS deduction is compulsory for firms

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