https://www.taxtmi.com/acts?id=50699 Any firm paying a partner interest on capital or salary, bonus, commission or remuneration must deduct income-tax at the time of credit or payment on the estimated amount due for the financial year at the average rate of income-tax for that year; the firm may adjust deductions to correct prior excesses or deficiencies. A partner receiving such payments from multiple firms may furnish prescribed details of payments and tax deducted by other firms, and a partner with additional income may supply particulars of that income and tax so the paying firm may take them into account when making the deduction, subject to a proviso preventing reduction below the otherwise applicable deduction. en-us Mon, 14 Apr 2025 18:06:44 +0530 Mon, 14 Apr 2025 18:06:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50699 Any firm paying a partner interest on capital or salary, bonus, commission or remuneration must deduct income-tax at the time of credit or payment on the estimated amount due for the financial year at the average rate of income-tax for that year; the firm may adjust deductions to correct prior excesses or deficiencies. A partner receiving such payments from multiple firms may furnish prescribed details of payments and tax deducted by other firms, and a partner with additional income may supply particulars of that income and tax so the paying firm may take them into account when making the deduction, subject to a proviso preventing reduction below the otherwise applicable deduction. Act-Rules F. Acts / Amendment Acts Mon, 14 Apr 2025 18:06:44 +0530 https://www.taxtmi.com/acts?id=50699