Tds on partners salary
This query is : Resolved
JAGJIT SINGH
(Querist)
07 June 2018
AS THE TDS IS NOT APPLICABLE ON SALARY TO THE PARTNERS OF THE FIRM BUT WE WANT TO DEDUCT AND DEPOSIT THE SAME TO THE CREDIT OF CENTRAL GOVT. BUT ARE CONFUSED UNDER WHICH SECTION IT SHOULD BE DEDUCTED.
CAN ANY EXPERT OPINION BE HELPFUL TO US...
JAGJIT DHIMAN
9417821267
CAN ANY EXPERT OPINION BE HELPFUL TO US...
JAGJIT DHIMAN
9417821267
Nikhil Kaushik
(Expert)
07 June 2018
you already know that it is not applicable, then why complicate the matter. If you deduct TDS as salary, that would unnecessarily burden the partner as he will have to show this as salary which would lead to f higher taxable income whereas generally he would show it was business income which would attract much lower taxation as benefits of 44ADA/44AD etc are available. So better just pay him the salary and let him bother about advance tax payments.
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JAGJIT SINGH
(Querist)
07 June 2018
THANKS! FOR YOUR RESOLUTION .
Nikhil Kaushik
(Expert)
07 June 2018
you are welcome Jagjit....
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