An individual having eligible business u/s44AD is paying 30000 salary p.m by Cash to an employee. But, total turnover of business is below 1crore. So, does he have to deduct TDS on salary paid? If yes, should he consider rebate u/s 87A for TDS calculation (as total income of such employee from all sources is less than 5 lakhs, and thereby making tax liability of such employee to zero..!) and doesn't it make the whole process redundant?
TDS on salary paid by an 44ad assessee
Venkatramana Shastry C (Student CA Final ) (90 Points)
23 August 2020
CAclubindia
