Tds on partners remuneration

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shruti (Querist)
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16 December 2013 I Know that partnership firm is not liable to deduct any amount of tds on remuneration to partners.
But due to some confusion I have deducted the same .
please tell me how can I rectify the same .... means in which section I will show this deduction...
or can I claim refund of tds?

Please reply as no one able to give me rite remedy .

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 December 2013 You have deducted. But have u also deposited it with d govt. If not, then better dont deposit and refund it to the partner.

in case u have deposited, then where is the question of section?? You have already mentioned the section in challan!!.If it is so, then dont do anything. Just let the partner claim the credit of such taxes

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shruti

shruti (Querist)
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16 December 2013 Sir I have deposited under sec 92B .

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 December 2013 Then just keep it that way. Let partner claim the credit

shruti

shruti (Querist)
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16 December 2013 knw as per your suggestion I will file return and partners claim their refund by filling their individual return??

shruti

shruti (Querist)
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16 December 2013 Thank u sir ...

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 December 2013 Yes. That should be the easier way out. In any case, even if you want to claim refund, you shall have to file tds return. So better the partner claim refund. Or alternatively, while filing return, instead of mentioning partner as deductee, mention some other employee and adjust the tds against the future tax liability of the employee. And then pay the required amount to the partner. This should keep everyone happy

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 December 2013 yes file itr and claim refund.

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