Tds deduction
This query is : Resolved
25 March 2018
Dear sir what reasone not to deduct tds on interest paid to partner and salary also give whether tds is applicable.
25 March 2018
Interest to partner is specifically exempt u/s 194(3)(iv) and as per Section 28(v) of the Income Tax Act, salary paid to a partner of partnership firm is only business income in the hands of the partner and therefore no TDS would be made on the same.
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