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IT / TDS

Tax Guide

NEW

What is TDS code 1036 — partner salary or remuneration from a firm?

Key mapping

Code 1036 covers TDS on salary, commission, bonus, remuneration or interest paid by a partnership firm to its partners. Rate: 10%. Threshold: ₹20,000 per year. NEW from 1 April 2026.

Explanation

Code 1036 corresponds to Section 194T of the IT Act 1961 (inserted by Finance Act 2024, effective 1 April 2025) and carries forward under IT Act 2025 §393 from 1 April 2026. A partnership firm must deduct TDS at 10% on salary, bonus, commission, remuneration or interest paid to a partner when such payments exceed ₹20,000 in the tax year. There was NO TDS on partner remuneration before 1 April 2025. The deductor is the firm; the deductee is the partner. TDS is reported in Form 140 (26Q).

Related terms and sections

1036194Tpartner salarypartner remunerationfirm TDSpartnershipnew April 2025new April 202610 percentsection 393

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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.