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Posted On : 24 September 2026
In Reply To :
TDS 194-T applicability
non-deduction of TDS u/s 194T in FY 2025-26 can be regularized by immediately applying for a TAN, obtaining a CA-certified Form 26A confirming that the partners paid tax on the income, paying mandatory interest @ 1% per month u/s 201(1A), and filing the overdue Form 26Q to avoid expense disallowances u/s 40(a)(ia) and penalties u/s 271C
Posted On : 24 September 2026
In Reply To :
Regime change
The department flagged the return because opting out of the Old Regime back into the default New Regime for business income legally requires submitting Form 10-IEA under the "Withdrawal" option. To resolve this, check if the e-filing portal allows you to submit Form 10-IEA for FY 2025-26 choosing to withdraw the Old Regime option, then submit the form's acknowledgement number in response to the notice; if portal filing is restricted, submit a detailed clarification explaining the transition history across FY 2023-24 to FY 2025-26, or adjust the filing under the Old Regime if mandatory.
Posted On : 24 September 2026
In Reply To :
TDS 194-T applicability
Thanks Sir,but, what if not deducted in FY 2025-26 due to ignorance and no TAN and in the impression that TDS is applicable to Audited firms only ?
Posted On : 24 September 2026
Regime change
Dear ExpertsI had salary and business income in FY 2023-24, so I filed ITR4 and submitted form 10IEA for opting old regime .
In FY 2024-25, I had only salary income. So I opted new regime without submitting form 10IEA.
In FY 2025-26, I had salary and business income again. So I filed ITR4 continuing new regime as I opted it last year. But income tax department now seeking a clarification for not submitting form 10IEA again this year. They are saying that this year income will be treated as per old regime since business income is there.
I am hopefully looking for your kind advice about how to respond to this query.
Posted On : 24 September 2026
In Reply To :
TDS 194-T applicability
Applicability: Section 194T applies to every firm/LLP, irrespective of tax audit status or turnover.Condition: Triggered when salary, remuneration, commission, bonus, or interest to a partner exceeds ₹20,000/year.
TDS Rate: 10% on the total credited/paid amount.
Exemptions: Share of profits and capital drawings are excluded.
Posted On : 24 September 2026
TDS 194-T applicability
whether TDS 194-T is applicable to small partnership firms also , who is not covered under Tax Audit criteria ?
Posted On : 24 September 2026
Consolidated financials
HelloDo we require Consolidated financials to be attached in ITR 6 or standalone is fine??
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