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of <h1>Tax Deduction at Source: TDS Credit to Firm for Partner Payments u/s 194C, Income Tax Act 1961.</h1> Instruction No. 619/CBDT dated September 25, 1973, addresses the issue of tax deduction at source (TDS) under Section 194C of the Income Tax Act, 1961. It clarifies that when an individual partner receives payment for a contract executed by a firm, the credit for TDS should be given to the entity in whose income the contract income is included. Generally, if the income is assessed in the hands of the firm, the TDS credit should also be given to the firm. This guidance is based on the opinion of the Ministry of Law.
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