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e-TDS Information:


Section 194T: TDS on Payments by Partnership Firms to Partners

Budget 2024 introduced Section 194T, making certain payments from partnership firms (including LLPs) to partners liable for TDS. Previously, such payments were exempt from TDS, with deductions applicable only to employee payments. This new provision, to effective from 1st April 2025.

Payments Covered Under Section 194T

Section 194T applies to the following payments made by a firm to its partners:

·         Salary

·         Remuneration

·         Commission

·         Bonus

·         Interest (on capital account, loan account, or any other account)

TDS Rate and Threshold Limit

·         Rate: TDS is deducted at 10%.

·         Threshold: Deduction applies only if aggregate payments to a partner exceed Rs. 20,000 in a financial year.

Timing of TDS Deduction

TDS under Section 194T is deducted at the earlier of:

·         Credit of the payment to the partner’s account in the firm’s books (including capital account).

·         Actual payment to the partner. 

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