TDS

what is tds

TDS is the short form of TAX DEDUCTED/DEDUCTION AT SOURCE

As the name suggest, the tax is deducted on a particular income at the source of the income itslef.The asessee gets the income after the tax is deducted.

no partners salary is taxable under the head of profit and gains from business & profession. So Tds is not applicable on payment made to partners on account  of salary

Dear Fatema,

Where is Section 192B?

Dear Pramod,

It was my mistake.The section is 192 (TDS on salaries) and the code is 92B.

Dear Fatema,

   what do u mean by code 92B?

Dear Fatema,

On which amount TDS is applicable on salary?