TDS
This query is : Resolved
19 April 2009
DEAR ALL
IF PARTNERSHIP FIRM MAKE PAYMENT OF ANY AMOUNT SAY RS. 500000/- TO PARTNERS BY WAY OF SALARY,REMUNERATION ETC. SHOULD PF DEDUCT TAX AT SOURCE?
BY WHAT NAME T.D.S SHOULD BE DEDUCTED?
WILL IT ISSUE FORM 16A.
IF PARTNERSHIP FIRM MAKE PAYMENT OF ANY AMOUNT SAY RS. 500000/- TO PARTNERS BY WAY OF SALARY,REMUNERATION ETC. SHOULD PF DEDUCT TAX AT SOURCE?
BY WHAT NAME T.D.S SHOULD BE DEDUCTED?
WILL IT ISSUE FORM 16A.
20 April 2009
NO TDS Will be applicable
In the chapter salary , it is clearly mentioned that if a partner receives salary , remuneration by whatever name it is called, the income shall be treated under Profit and gain from business and profession, it it because there is a relationship between business held by the partner and salary is provided by the surplus made by the firm
In the chapter salary , it is clearly mentioned that if a partner receives salary , remuneration by whatever name it is called, the income shall be treated under Profit and gain from business and profession, it it because there is a relationship between business held by the partner and salary is provided by the surplus made by the firm
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