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Deduction of tds by a firm

siva andhavarapu (ca final) (388 Points)

04 September 2018

HAI

IF A FIRM IS HAVING TAX AUDIT UNDER SEC 44ADA(DEEMED TAX AUDIT) IN FY 16-17,THEN DEDUCTION OF TAX FOR ELIGIBLE PAYMENTS IS MANDATORY IN FY 17-18 BY THE FIRM.

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177736 Points)
Replied 04 September 2018

Otherwise also....... Partnership firm is liable for TDS deduction/s; no exemption like individual/HUF.

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siva andhavarapu (ca final) (388 Points)
Replied 04 September 2018

SIR

CAN YOU PLS GIVE SECTION REFERENCE SO THAT I CAN EXTRACT FULL INFO

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177736 Points)
Replied 04 September 2018

Refer Section 194A, 194C, 194H & 194J......... the TDS liability is over all the persons, except individual/HUF [not liable to audit u/s. 44AB (a) & (b) in preceeding year]............ but none of the section exempts partnership firm........ so, TDS liability remains intact for PF, whether liable to audit or not. .. (I hope you have queried for partership firm)