10% TDS on partners' income above Rs. 20K p.a. from April '25 for partnerships. Widening tax base & curbing avoidance.

Income Tax: Proposed insertion of new Section 194T mandates 10% TDS on payments exceeding Rs 20,000 annually by partnership firms to partners towards salary, remuneration, interest, bonus or commission, effective April 1, 2025, widening tax base and curbing avoidance. This provision currently does not exist. .....

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