Insertion of new section 194E

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....r remuneration to partners. (1) Any person assessable as a firm who is responsible for paying to a partner any income by way of,- (a) interest on capital or any other sum borrowed by it from the partner; (b) salary, bonus, commission or remuneration, by whatever name called, shall at the time of credit of such income to the account of the payee or at the time of....

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....s of his case, choose), such details of the payments referred to in sub-section (1) due or received by him from the other firm or firms, the tax deducted at source therefrom and such other particulars, in such form and verified in such manner as may be prescribed, and thereupon the firm responsible for making the payment referred to above shall take into account the details so furnished for the pu....