15 July 2010
can a partnership firm deducted tds on salary given to their partner. another one is that is there compulsary to share profit distributed by firm to partner,can a firm capitalised share profit.
15 July 2010
No Partnership firm is not required to deduct TDS on salary paid to partners because salary received from firm by a partner is ataxable as business profit in the hands of partners.
Profit earned by the partnershiip firm has to be distributed among partners in their Profit sharing ratio
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