TDS on payments to partners requires firms to withhold tax at source on partner remuneration, affecting compliance obligations. Firms paying sums characterized as salary, remuneration, commission, bonus or interest to partners must deduct income-tax at source at the prescribed rate ... Summary
TDS on payments to partners requires firms to withhold tax at source on partner remuneration, affecting compliance obligations.
Firms paying sums characterized as salary, remuneration, commission, bonus or interest to partners must deduct income-tax at source at the prescribed rate at the time such sums are credited to the partner's account (including capital account) or at payment, whichever is earlier; no deduction is required where the sum or aggregate of such sums to the partner in a financial year does not exceed the specified monetary threshold.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.