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.
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