02-17-2009, 09:04 PM
Dear,
It shall with-hold the tax if it is company regardless of anything.
However, if it is AOP it will not deduct the tax at source unless its annual tunrover is or exceeds Rupees 50 million {section 153(9)(g)}. If it exceeds this figure, it will become the with-holding agent.
AOP formed under law is something different.
Regards,
KAMRAN.
It shall with-hold the tax if it is company regardless of anything.
However, if it is AOP it will not deduct the tax at source unless its annual tunrover is or exceeds Rupees 50 million {section 153(9)(g)}. If it exceeds this figure, it will become the with-holding agent.
AOP formed under law is something different.
Regards,
KAMRAN.