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Partnership firm
If 26as of partnership firm is blank i.e income is not in partnership pan bt partners have given their pan and income and tds is in their 26as than can we book income in accounts of partnership firm?? And if yes than can they will get thee benefit of tds while tax calculatuon ??
Replies (1)
you can book the income of partners in the partnership firm but you can not claim the tds of individual partners in the firm's tax liability, because firm and partners are different. firm has to pay tax at the rate of 30% of profit,in firm's tax calculation and at the same time individual partners tds will get benafit in the tax calculation of individual partners, because it is appearing in the 26as of individual partners.
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