New TDS rules for partnership firms: What you need to know
This applies to payments or credits exceeding ₹20,000 on or after 1 April 2025, attracting TDS at 10%. This ₹20,000 is a combined limit for both interest and remuneration (including bonus, commission and salary). No TDS is required from the share of profits credited or paid to a partner. Under general law, a partnership firm … Read more