When does a partnership firm get liable to mandatorily audit books of account?
I am an active partner in a partnership firm. My firm operates from an office on rent and has a tenacy agreement with the owner. This agreement stipulates that the firm deduct TDS from the rent payable(around 2.2 lakhs per annum). Can we argue that our Books are not audited and TDS not applicable?
And finally, When is a person running a business not liable to deduct tax at source for the rent paid by him for his office.
Jan. 08, 2018