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IT / TDS

Tax Guide

Section 194T — TDS on partner remuneration (Finance Act 2024)

Key mapping

Section 194T inserted by Finance Act 2024 — TDS at 10% on partner salary/remuneration/interest paid by partnership firm, effective 1 April 2025. Threshold: ₹20,000 per partner per year.

Explanation

CBDT notification under Finance Act 2024: Section 194T applies from 1 April 2025 (for FY 2025-26). Partnership firms must deduct TDS at 10% on salary, commission, bonus, remuneration, and interest on capital paid to each partner where the aggregate exceeds ₹20,000 in the financial year. This is a completely new provision — there was no TDS on partner remuneration before 1 April 2025. Partners receiving such income must now ensure it is reflected correctly in their AIS and Form 26AS. Under IT Act 2025, this becomes Code 1036 under Section 393. Verify on incometaxindia.gov.in.

Related terms and sections

194T1036partner TDSFinance Act 2024April 202510 percent20000CBDTpartnership firm

Use this in practice

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Related sections

IT Act 2025 Section Mapper →All IT Act changes →

All section references are sourced from the Income Tax Act 2025 (official gazette, incometaxindia.gov.in) and cross-referenced against CBDT's comparative statement. Always verify on the official portal before filing. This page is for reference only and does not constitute legal or tax advice.