Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 November 2013 Sir,
one of my friend has salary income from partnership firm of Rs.240000/- which was under the tax audit and had failed to deduct TDS on the salary income of Rs.240000/-

Please suggest me how can handle the situation without revising the return of the partnership firm.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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13 November 2013 In case your friend is a partner in that firm, firm is not required to deduct tax.
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In case your friend is an employee of the firm , the firm was under obligation to deduct TDS on his salary. However, if your friend is paying LIC Premium and his other deductible savings U/s 80C and 80D are higher than 40000/- then suitable explanation can be framed.