Tds liability
This query is : Resolved
27 April 2013
Partnership firm established on 1st April 2012 and having turnover of Rs 8,00,000.00 is liable to deduct TDS ?
27 April 2013
yes, though the rate of tds etc depending on the nature of payment.
turnover of deductor is to be checked in case of individual or huf for certain payments.
no such limit for prarntership firm
turnover of deductor is to be checked in case of individual or huf for certain payments.
no such limit for prarntership firm
27 April 2013
Agree with learned expert. Irrespective of turnover, Firms are required to deduct TDS wherever applicable as per the provisions of the Income Tax Act.
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