Tds turnover limit

Yasir (article assistant ) (470 Points)

26 April 2023

what is turnover limit for partnership firm for TDS deduction for the financial year 2023-24

Reply
Follow
Share

5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (183048 Points)
Replied 26 April 2023

TDS provision applies to partnership firm whether covered under 44AB audit or not.
Limit is based on TDS section not over turnover of the firm.

Yasir (article assistant ) (470 Points)
Replied 26 April 2023

in case of newly set up firm tds will be deducted from beginning the firm for making payment to contractors professionals and employees

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (183048 Points)
Replied 26 April 2023

Yes, liable for TDS deductions on all such payments, if amount exceeds the specified limits as per the sections.

Yasir (article assistant ) (470 Points)
Replied 27 April 2023

Thank you sir

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (183048 Points)
Replied 27 April 2023

You are welcome.

Start a New Discussion