Tds on partner salary
This query is : Resolved
atul jaiswal
(Querist)
20 August 2011
whether firm is liable to deduct tds on partner's salary.????
answer with reason
answer with reason
Ram Avtar Singh
(Expert)
20 August 2011
No Partnership firm is not required to deduct TDS on salary paid to partners because salary received from firm by a partner is ataxable as business profit in the hands of partners.
Profit earned by the partnershiip firm has to be distributed among partners in their Profit sharing ratio
Profit earned by the partnershiip firm has to be distributed among partners in their Profit sharing ratio
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