Tds on salary by proprietorship firm and partnership firm
This query is : Resolved
10 October 2015
whether sole proprietor paying salary of 30000pper month per employee is liable to deduct tds...??...
10 October 2015
TDS provisions are applicable to Partnership firms. For proprietary concerns, TDS provisions are applicable if the turnover of assessee exceeds Rs.1 crore ie to whom Section 44 AB is applicable. But such applicability of TDS to proprietary concerns is applicable in the succeeding year of the year in which the turnover exceeded Rs1 crore.
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