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If an individual's turnover crosses 1cr/50lacs but he choses to pay tax u/s 44AD/44ADA is he required to deduct tax at source??


Venkatesh Rathinam

Venkatesh Rathinam

CA Inter

13K+

28-Jun-20

50

Answers (6)

Best Answer

Not required to deduct TDS.


KEERTHI PRIYA

KEERTHI PRIYA

CA Inter

695

28-Jun-20

KEERTHI PRIYA

Not required to deduct TDS.

If it crosses the limit of 1cr or 50lakh he should maintain books there is no choice of 44AD or 44ADA


Manju H S

Manju H S

CA Inter

9K+

30-Aug-20

For above question asked by Venkatesh


Manju H S

Manju H S

CA Inter

9K+

31-Aug-20

Once the limit crosses then they cannot opt estimated basis u/s 44AD or 44ADA (Rs.2 Crs and Rs.50 lakhs). No TDS has to deducted if the person making the payment is an individual or HUF whose books are not required to be audited. Generally For Professions and Businesses covered under section 44AD and 44AE are not required to maintain any books of accounts and thus no audit and no thus TDS except those who fall under except those who fall under sub-section (4).


sudha reddy

sudha reddy

Moderator

01-Sep-20

That's what I told


Manju H S

Manju H S

CA Inter

9K+

01-Sep-20

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