Tds
This query is : Resolved
05 January 2016
If a firm has two partner out of which one is individual and other one is a pvt. ltd. company. So firm paying remuneration to the director of the company will be liable to deduct tds or not?
And also if firm has paid remuneration to the individual partner which crosses the taxable limit will be also liable to deduct tds or not?
And also if firm has paid remuneration to the individual partner which crosses the taxable limit will be also liable to deduct tds or not?
05 January 2016
TDS is not applicable to partners salary as the section specifies the term as "any income that is chargeable under the head salaries". As partners salary is chargeable under the head Profits and Gains of Business and Profession, the firm is not liable to deduct tax at source on such salaries.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Long Term Service award taxability in hands of company
- Free lancer income
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- What is provisional receipt number for generation of form 16A
- Form 27Q Correction statement taking too long to update on IT Portal
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
