Are Co-Operative Housing Society are Required to Deduct TDS ?
2 Replies
CA VINAY BANSAL
(In job with KPMG)
(289 Points)
Replied 15 June 2010
The housing socities are liable to TDS only in case the liablilty for TAx audit arises in the immediately preceeding previous year. TAX deduction starts only in the subsequent year........
CA VINAY BANSAL
(In job with KPMG)
(289 Points)
Replied 15 June 2010
Dear,
Sorry for mistake/.. but every society and trust uis required to deduct TDS if the qualifying limit is exceeded. there is no compulsion of TAx audit. So even a small socirty with no tax audit in previous year is also required to deduct Tax.
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