TDS
This query is : Resolved
CA Abhishek Singh
(Querist)
19 April 2009
DEAR ALL
IF PARTNERSHIP FIRM MAKE PAYMENT OF ANY AMOUNT SAY RS. 500000/- TO PARTNERS BY WAY OF SALARY,REMUNERATION ETC. SHOULD PF DEDUCT TAX AT SOURCE?
BY WHAT NAME T.D.S SHOULD BE DEDUCTED?
WILL IT ISSUE FORM 16A.
IF PARTNERSHIP FIRM MAKE PAYMENT OF ANY AMOUNT SAY RS. 500000/- TO PARTNERS BY WAY OF SALARY,REMUNERATION ETC. SHOULD PF DEDUCT TAX AT SOURCE?
BY WHAT NAME T.D.S SHOULD BE DEDUCTED?
WILL IT ISSUE FORM 16A.
20 April 2009
Income tax need not be deducted from partner's remuneration.
CA.ViVeK M ACA
(Expert)
20 April 2009
In the chapter salary , it is clearly mentioned that if a partner receives salary , remuneration by whatever name it is called, the income shall be treated under Profit and gain from business and profession, it it because there is a relationship between business held by the partner and salary is provided by the surplus made by the firm . Therefroe no TDS on salary income.
O.D.SHARMA
(Expert)
20 April 2009
Dear,When u are saying salary ,Its auto matically fit to be treated for tax & compute the tax.Please pay regularly
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Movement of goods by packers and movers - type of sale - Reg.
- Missed uploading GST Invoice
- Gratuity paid to legal heir above 20 lakh is taxable or not
- ARCA LOGIN
- RCM and same line
- Closer of business and itc of capital goods
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
