Tds on partners salary or remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 April 2012
DEAR SIR,
KINDLY TELL ME ABOUT THE NEW LAW ABOUT TDS ON PARTNERS SALARY 194J(1)(BA)
KINDLY TELL ME ABOUT THE NEW LAW ABOUT TDS ON PARTNERS SALARY 194J(1)(BA)
CA PARAS BAFNA
(Expert)
16 April 2012
There is no provision like this. Section 194J has been amended for including the TDS provisions on amount payable by a company to its directors like sitting fee etc. which is not included while deducting TDS on his salary U/s 192.
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Message likes :
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CA Prashant Gupta
(Expert)
16 April 2012
Agree with sir, no tds required for partner's ca[ital
Murtaza I Bhagat
(Expert)
17 April 2012
TDS on Partner Salary/remuneration is not attract TDS provision
CA PRAVEEN SINGH
(Expert)
17 April 2012
yes agree with above.
CA CS Amit S. Kedia
(Expert)
17 April 2012
There is nothing to do of patners' salary with newly inserted section.
The new section is applicable only for directors of the company.
There is no TDS on remuneration to partners but there is limit u/s 40(b) for deduction beyond which deduction will not be allowed.
TDS will not be deducted even if payment exceeds the limit but the firm will get the deduction to maximum limit.
The new section is applicable only for directors of the company.
There is no TDS on remuneration to partners but there is limit u/s 40(b) for deduction beyond which deduction will not be allowed.
TDS will not be deducted even if payment exceeds the limit but the firm will get the deduction to maximum limit.
17 April 2012
Yes all the experts are correct and I also agree with them
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