In A.Y. 2011-12, an assessee shows net profit of less than 8% of the gross receipts. So is he liable to deduct TDS on commission paid?
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Income Tax Audit
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YES IF IN THE PREVIOUS YEAR HIS ACCOUNTS WERE AUDITED
The turnover is about Rs. 40 lacs and the net profit is below 8%. So the accounts will be audited for the 1st time. But TDS has not been deducted on commission paid. What the remedy now?
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