The present limit for eligibility for benefits under 44AD is 2 crores.
Clause a of 44AB specifies limit of 1 crore for tax audit.
As per TDS provisions individual or Huf falling under clause a of Section 44AB are required to deduct TDS
There was a clarification issued in this regard.
Please explain me the clarification or provide me the source of clarification
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Tds requirement for 44AD
Replies (1)
No clarification issued, except Press Release-on-Presumptive-Taxation-21-06-2016.
TDS liability arises once the turnover limit exceeds as specified u/s. 44AB(1)
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