LALIT M.CHOPRA (ARTICLE) (29 Points)
07 June 2018One of My Assesse having turnover for FY 2017 - 18 Amounting RS. 1.35cr and has filled return AY for 2018-19 under sec 44AD not getting book of account audited by CA.
whether my assesse need to deduct tds for interest payment amounting RS . 50000/- in AY 2019-20.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 08 June 2018
Turnover of FY 2017-18....... was 1.35 Cr (and not 35 Cr), while limit under Sec. 44AD for business is 2.00 Crs........ so tax audit liability will not arise, when opted for sec. 44AD.
CAclubindia
