10% TDS on partners' income above Rs. 20K p.a. from April '25 for partnerships. Widening tax base & curbing avoidance. https://www.taxtmi.com/highlights?id=79952 Income Tax: Proposed insertion of new Section 194T mandates 10% TDS on payments exceeding Rs 20,000 annually by partnership firms to partners towards salary, remuneration, interest, bonus or commission, effective April 1, 2025, widening tax base and curbing avoidance. This provision currently does not exist. en-us Tue, 30 Jul 2024 21:43:49 +0530 Tue, 30 Jul 2024 21:43:49 +0530 TaxTMI RSS Generator 10% TDS on partners' income above Rs. 20K p.a. from April '25 for partnerships. Widening tax base & curbing avoidance. https://www.taxtmi.com/highlights?id=79952 Income Tax: Proposed insertion of new Section 194T mandates 10% TDS on payments exceeding Rs 20,000 annually by partnership firms to partners towards salary, remuneration, interest, bonus or commission, effective April 1, 2025, widening tax base and curbing avoidance. This provision currently does not exist. Highlights Bill Tue, 30 Jul 2024 21:43:49 +0530 https://www.taxtmi.com/highlights?id=79952