Tds on incentive paid to partners
This query is : Resolved
03 August 2013
A PARTNERSHIP FIRM IS LIABLE FOR TAX AUDIT U/S 44AD, INCENTIVE GIVEN TO PARTNERS..
MY QUERY IS WHETHER TDS PROVISIONS ARE APPLICABLE FOR PAYMENT OF INCENTIVES TO PARTNERS FOR AY 2013-2014??
KINDLY REPLY.
MY QUERY IS WHETHER TDS PROVISIONS ARE APPLICABLE FOR PAYMENT OF INCENTIVES TO PARTNERS FOR AY 2013-2014??
KINDLY REPLY.
03 August 2013
pls specify the incentive paid.
03 August 2013
INCENTIVE OF Rs. 50,000 TO TWO PARTNERS(50,000*2)= 1,00,000 ON TURNOVER. THE FIRM IS TRADING IN PHARMACEUTICAL PRODUCTS.
03 August 2013
It is not salary also hence it is just a form of profit sharing with diff name as incentive ,hence no tds is applicable.
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
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Bank details not Visible on Traces Portal
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
