Tds related
This query is : Open
20 December 2016
dear sir whether may cilent has paid remuneration to partners and he is audited 44 AB whether he has deducted tds from remuneration of Rs 500000 per annum.it is deducted audited case or non audited case.
20 December 2016
It is mandatory to deduct TDS on partner 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. Explanation 2 sec 15. It is taxable Under business income u/s 28
20 December 2016
Dear Alpesh,
TDS is NOT applicable for amount paid to partner, whether interest or remuneration.
Message likes :
1 times
20 December 2016
whether it is paid to relatives for exceeding Rs 300000 then tds is applicable in such case only audit case.
20 December 2016
Dear Alpesh,
Since in your primary question the words used were payment to partner, I'm assuming your question is pertaining to TDS provisions applicable to a partnership firm.
In this respect I wish to tell you that for a partnership firm tds provisions are applicable irrespective of the fact whether the firm is under audit or not.
secondly where interest is paid to related party in excess of limit prescribed in 194A is Liable to TDS.
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
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Should I report my US salary for January, February, March in Schedule FA?
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
