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TDS Deduction
TDS on partners salary
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TDS not applicable u/s 192.
Salary or remuneration paid to partners is not taxable in the hands of partners as 'salary' but it is considered as 'income from business'. No employer-employee relationship exists between partner and partnership firm.
Explanation 2 to Sec. 15 of the Income Tax Act 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' and shall not be chargeable to income-tax under the head 'salaries'.
TDS is NOT required to be deducted from Partner’s Remuneration or salary.
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