09 June 2010
TDS provisions of sec 194C are applicable to Individual or HUF whose books of account are required to be audited u/s 44AB (Para 159.1 of 33rd edition of Singhannia's Reckoner)
There is no provision exempting any class of assessees from application of section 44 AB (Para 52 of 33rd edition of Singhannia's Reckoner))
Incidentally, the limit of Rs 40 lacs has been revised to Rs 60 lacs from FY 2010-11 (AY 2011-12)
09 June 2010
Dear Subba Rao .Author not asking applicablity of Sec.44AB. the query about the TDS need to deduct on the payment made by the assessee if they not covered under sec.44AB.
CAclubindia
