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Tds liability on partner salary in a llp firm

TDS 363 views 1 replies

Sir ,'

Please advise for below mention points

during the FY 2014-15 Mr Sharma (Partner in LLP firm) was running another small Job work business but all transaction were in cash . Should I i disclose in his personal ITR?

in FY 2015-15  month Nov he started Job in a company where is gets 50000,PM ,Salary ,and are also giving him 25 K PM salary ,what about TDS liabilty ? and what will the  regular TDS return liable on us?Should I maintain an individual account in Tally for Both Partners ?

Replies (1)

Another small business shoiuld be disclosed in individual ITR.TDS will be deducted by the company on income from salary based on IT proof submitted by him.TDS should be deducted on 25000 PM salary also as his total income is rs. 600000 Per anum.


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