Tds on remuneration of partners
This query is : Resolved
30 March 2017
Have any option to deduct TDS on Remuneration of partners. Please guide me
Sandeep Dharar
(Expert)
30 March 2017
Actually Partners receive salary and not remuneration. So u must deduct TDS accordingly if the amount exceeds the limit as per slab rate.
30 March 2017
No. Salary or remuneration to a partner from a partnership firm is not charged under the head INCOME FROM SALARY , but treated as “business income” in the hands of partner. Therefore, there is no question of TDS on salary or remuneration paid by the firm to the partner's of a firm .
CA Gopal Somani
(Expert)
30 March 2017
Its not 'Income from salary'. It is considered as business income. So NO TDS
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