Section 194T: The New TDS Rule That Will Change How Firms Pay Partners
Starting 1 April 2025, a brand-new provision under the Income Tax Act—Section 194T—will come into play. For the first time, partnership firms and LLPs must deduct TDS on certain payments to their own partners. This is a fundamental shift. Till FY 2024-25, firms could pay remuneration, commission, or interest to partners without TDS. The income […]
