partner's salary
This query is : Resolved
10 June 2008
is tax to be deducted at source on partner's salary????
10 June 2008
No.
Remunaration received by Partner is exempt in the hands of partners.
Remunaration received by Partner is exempt in the hands of partners.
10 June 2008
No.
Remunaration received by Partner is exempt in the hands of partners.
Remunaration received by Partner is exempt in the hands of partners.
10 June 2008
no
remuneration to partner is not covered under the definition of salary under I T Act.
further it is taxable in the hands of partner as Profit & gains from business & profession (PGBP)rather than under the head salary.
there is no provision under the I T Act for TDS on remuneration to partner.
remuneration to partner is not covered under the definition of salary under I T Act.
further it is taxable in the hands of partner as Profit & gains from business & profession (PGBP)rather than under the head salary.
there is no provision under the I T Act for TDS on remuneration to partner.
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