Author: Y Ramakrishnan, ASA
The Finance (No. 2) Act 2024 has brought forth Section 194T, a new provision mandating a 10% TDS on payments exceeding ₹20,000 during the financial year made by firms to their partners as salary, remuneration, bonus, commission, or interest. This introduction raises several critical questions, particularly concerning its impact on small and professional firms and the resulting cash flow implications for individual partners, especially in light of the revised new tax rates for Individuals under the Finance Act 2025.
Published on – News18
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