TDS U/S. 194-T i.e. Payments to Partners

K P BHANUSHALI (PROPRIETOR) (515 Points)

13 January 2025  

Hi Friends/Seniors,

Recently, One more Section has been added to TDS i.e. TDS on Payments to Partners.

If I am correct, this TDS has to be deducted by firms, at specified rates with limit of Rs.20000, which are under Income Tax Audit.

For Firms who are not under Income Tax Audit, how they can deduct TDS on these payaments ?

Whether they are required to deduct TDS after getting TAN or not to deduct TDS ?

If possible, you are requested to look into the matter & reply accordingly.

Thanks in advance.