The Assessee was in Tax Audit bracket in A.Y. 2009-10 but not in A.Y. 2010-11. Will the provision of TDS be applicable in A.Y. 2011-12 under Income Tax Act,1961?
As TDS provision states " T.D.S. provisions will be applicable if assessee is in the purview of Tax Audit u/s 44AB in immediately previous year."
Pls Reply.
Thanks.
Asked on 8/21/10, 1:30 am
1 Answer from Attorneys
TULAJAPPA KALBURGI
TULAJAPPA KALBURGI
No. In case of an individual or HUF is liable to tax audit u/s 44AB during the FINANCIAL YEAR in which such sum is credit or paid shall be liable to deduct IT. If your concern in under status of Individual or HUF and come under the Tax audit then you will liable to deduct TDS for said year
Answered on 6/15/11, 11:32 am
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