Tds on partner's remuneration

This query is : Resolved

kavita (Querist)
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21 February 2012 Dear Sir,

I,ve a query related to Partner's Remuneration & TDS on partner's Remuneration.
(1) what is relationship b/w Partner & Partnership firm.
(2) Under which section TDS on partner's remuneration will be deducted.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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21 February 2012 Partner remuneration not attract TDS under any section.
Relationship between partner & firm is the ownership. hence not attract TDS

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 February 2012 Section 28(v) of the Income Tax Act,1961 says, salary paid to a working partner of a partnership firm is "business income" in the hands of the partner and ,therefore, TDS provisions doesn't attract.

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