Partner payments withholding requires firms to deduct tax on qualifying remuneration, commission, bonus, interest, and capital-account credits above threshold. Section 393(3) requires a firm to deduct tax at source on salary, remuneration, commission, bonus, or interest paid or credited to a partner, including ... Summary
Partner payments withholding requires firms to deduct tax on qualifying remuneration, commission, bonus, interest, and capital-account credits above threshold.
Section 393(3) requires a firm to deduct tax at source on salary, remuneration, commission, bonus, or interest paid or credited to a partner, including credits to the partner's capital account. The firm bears the deduction obligation. Tax is deductible at a fixed rate of 10% where the aggregate payment or credit exceeds Rs. 20,000.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 1
Join Channel
TaxTMI 
