Sir, pls. let me know whether sum pis payable / paid to partners' of regd. firm towards remuneration as per partnership deed as well as interest paid / payable on unsecured loan given by partners to firm is subject to tds u/s 192 & u/s.194A resp.
Menu
Tds applicability under income tax act
Replies (4)
194A is not applicable on interest for partnership firms.
Only 192 is applicable on remuneration
Only 192 is applicable on remuneration
No TDS on interest and remuneration paid to partner
No TDS is required to deduct in any case whether it is interest/Remuneration/salary becoz the same is taxable in the hands of partner under PGBP
Explanation 2 of section 15 says that “Any salary, bonus, commission or remuneration, by whatever name called, due to, or received by, a partner of a firm from the firm shall not be regarded as “salary”. Therefore no TDS is to be deducted on salary paid to the partners
Recent Threads
- Check ITR1 on income tax Form ITR1 Instead of 1 ho
- Form 121 requirement
- Interest on reversal of ITC when ITC balance avail
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
- Wrong reporting on 22 april 2026 under article inc
- Articeship Form 107
- TAN for Multiple States
- Delivery Challan serial number Issue and return ru
Related Threads
CAclubindia
