TDS u/s 192
This query is : Resolved
31 August 2009
If a partnership firm pays salary to its partners, then is it liable to deduct tax at source on such salary paid or credited?
31 August 2009
No There is no applicability to deduct TDS on Remuneration paid to partner, Since this income is taxable to Partner under the Head Business or Profession.
31 August 2009
Thank u Sir for the instant reply
31 August 2009
Salary payment to partners is not covered under section 15 of the Income Tax Act, 1961.
This is because, there is no employer and employee relationship between the firm and partners.
Partners are the owner of the firm.
In view of the above TDS u/s 192 is not applicable to salary to partners.
This is because, there is no employer and employee relationship between the firm and partners.
Partners are the owner of the firm.
In view of the above TDS u/s 192 is not applicable to salary to partners.
31 August 2009
Not Require.
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?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- Confusion around Form 26QB fields
- 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?
- Query for dubts
Trending Online Classes
CAclubindia
