I have a 2 queries please anyone can give a reply
1. If partnership firm getting a loss is it necessary for it to do tax audit us 44AB read with section 44AD ???
2. Incase of capital expenditure say construction of office ... tds need to be deducted for contractors or professional expenditure or tds need to be deducted only incase of revenue expenditure ?? Pls reply
1. Not required, but no deduction of interest and salary paid to partners, before arriving the loss......
2. TDS to be deducted for all the expenses, be it revenue or capital nature....
CAclubindia
