Tds for companies

S A D (Chartered Accountant) (42 Points)

23 July 2015  

Hi guys,

My company is a private limited company, it has only house property income since past 2 years. And the income is below 1 Crore. But we are paying prof fees to chartered accountants, other professionals.

I have 2 Questions. -

1) Is the company liable for Audit under Income Tax Act'1961.

2) Whether we have deduct TDS on Payments made to Professionals

 

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