Shivish Verma (C A) (376 Points)
03 December 2013Dear Sir
My client is partnership firm and the firm was created in April 2012. the firm has filed return u/s 44 AD for A.y. 2013-14 .i.e. firm is not maintaining books of account.
Whether the firm was required to deduct tds in f.y. 2012-13 and in f.y. 2013-14. Because tds provision on firm applies from the day it is created.
How can firm deduct tds when it was not maintaining books of account and filing itr u/s 44AD
Please help
Thanks
CA Nitin K. Varshney
(FCA DISA CCA Peer Reviewer (ICAI))
(616 Points)
Replied 03 December 2013
provision of TDS does not require maintaining of books. if you are incurring expenses falls under the provisions of TDS, you should deduct tax on it.
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