Whether person having turnober above 1 crore declaring profit u/s 44AD 8% above during F.Y. 2017-18, is liable to deduct tds during F.Y 2018-19?
2 Replies
Nitin Gupta
(Student CA IPC / IPCC)
(193 Points)
Replied 06 July 2018
yes it is necessary to deduct tds
CA ABHAY GUPTA
(Practice)
(3230 Points)
Replied 07 July 2018
in case of an assessee adopting the presumptive taxation
scheme of section 44AD, no disallowance under sections 40, 40A and 43B will apply which means even if you do not deduct tax no disallowance will be done... no need to deduct tax
scheme of section 44AD, no disallowance under sections 40, 40A and 43B will apply which means even if you do not deduct tax no disallowance will be done... no need to deduct tax
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