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TDS deduction liablity

rocky (accountant) (948 Points)

04 August 2020

there is a housing soceity, Association of person. they have not done audit ever. turnover ia 20 lakhs,. they are paying rs 75000 per month to security services. are they required to deduct TDS?

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 04 August 2020

Yes, As per the Income Tax Act, a Cooperative Housing Society is taxable entity. It is mandatory for any registered co-operative housing society / apartment association to deduct TDS, pay deducted TDS to Government on time, file TDS Returns on time and issue TDS certificates to deductees on time.

So, in Your case Society/AOP are required to deduct TDS u/s 194C from payment made to security service provider.