TDS
This query is : Resolved
30 June 2011
is tax to be deducted on interest and salary payable to partners in partnership firm? If not please give me reason?
30 June 2011
Salary and Interest to partners are deemed as appropriation of profit.
*
Partner is not an employee of the firm. For deducting TDS U/s 192 the income is required to be chargeable under the head Salaries, whereas partner's Salary is chargeable under the head PGBP.
*
In case the partner is resident no TDS is required to be deducted on interest payable to him vide Section 194A(3)(iv).
*
Partner is not an employee of the firm. For deducting TDS U/s 192 the income is required to be chargeable under the head Salaries, whereas partner's Salary is chargeable under the head PGBP.
*
In case the partner is resident no TDS is required to be deducted on interest payable to him vide Section 194A(3)(iv).
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
- House Property Reporting in ITR
- TDS Claim year
- Sales amount in Gstr1
- Supply through E-commerce Operators
- TDS Challan Code
- Rent lease agreement
- Relief u/s Section 89
- Lease agreement and tax on sale
- REGARDING SECTION 44AE
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- 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
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
