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 .
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
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
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