Senior accountant
116 Points
Posted on 25 March 2016
you can book the income of partners in the partnership firm but you can not claim the tds of individual partners in the firm's tax liability, because firm and partners are different. firm has to pay tax at the rate of 30% of profit,in firm's tax calculation and at the same time individual partners tds will get benafit in the tax calculation of individual partners, because it is appearing in the 26as of individual partners.