R. RAJASHEKHAR (Self Employed ) (35 Points)
10 September 2013I understand that for Partners Salary TDS will not be deducted, could you please confirm the same.
Deepak Gupta
(CA Student)
(15922 Points)
Replied 11 September 2013
| Originally posted by : R. RAJASHEKHAR | ||
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I understand that for Partners Salary TDS will not be deducted, could you please confirm the same. |
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TDS is not required to be deducted u/s 192 as any 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 in Section 15.
It is taxable as business income u/s 28(v).
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