Tds on partners capital interest

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Jayesh Makwana

Jayesh Makwana (Querist)
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09 May 2014 Whether TDS is applicable on Interest paid to partners by the partnership firm on the partners capital.

Sandeep Dharar

Sandeep Dharar (Expert)
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09 May 2014 No TDS is applicable on that, coz it will added back to partners capital which will result in increase in capital of the firm itself. So it is indirectly the income of firm. So we can't deduct TDS on our own income.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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09 May 2014 Income tax need not be deducted from the interest payment to partners of partnership firm. Please see section 194A(3)(iv).

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Rupesh Jain

Rupesh Jain (Expert)
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14 May 2014 TDS ON PARTNER CAPITAL INTT NOT DEDUCTABLE

AND INTT WILL TAXABLE IN HAND OF PARTNER AS BUSINESS INCOME.

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