TDS u/s 192
This query is : Resolved
31 August 2009
If a partnership firm pays salary to its partners, then is it liable to deduct tax at source on such salary paid or credited?
31 August 2009
No There is no applicability to deduct TDS on Remuneration paid to partner, Since this income is taxable to Partner under the Head Business or Profession.
31 August 2009
Thank u Sir for the instant reply
31 August 2009
Salary payment to partners is not covered under section 15 of the Income Tax Act, 1961.
This is because, there is no employer and employee relationship between the firm and partners.
Partners are the owner of the firm.
In view of the above TDS u/s 192 is not applicable to salary to partners.
This is because, there is no employer and employee relationship between the firm and partners.
Partners are the owner of the firm.
In view of the above TDS u/s 192 is not applicable to salary to partners.
31 August 2009
Not Require.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
