Tds on partners capital interest
This query is : Resolved
Jayesh Makwana
(Querist)
09 May 2014
Whether TDS is applicable on Interest paid to partners by the partnership firm on the partners capital.
Sandeep Dharar
(Expert)
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.
09 May 2014
Income tax need not be deducted from the interest payment to partners of partnership firm. Please see section 194A(3)(iv).
Message likes :
1 times
Rupesh Jain
(Expert)
14 May 2014
TDS ON PARTNER CAPITAL INTT NOT DEDUCTABLE
AND INTT WILL TAXABLE IN HAND OF PARTNER AS BUSINESS INCOME.
AND INTT WILL TAXABLE IN HAND OF PARTNER AS BUSINESS INCOME.
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
- Nursery business
- Tax on Amount transferred in HUF Account
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- Intimation under section 245
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
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
