Setindiabiz10
New era for partnership tax: Section 194T of the Income Tax Act, effective April 1, 2025, mandates a 10% TDS for all Partnership Firms and LLPs on specified partner payments (salary, interest, bonus, commission, remuneration) exceeding ₹20,000 annually 💼💰. This is India's first TDS on such payments, closing a compliance gap 🇮🇳✅. Deduction must occur at the earlier of crediting or payment. Firms must establish compliance processes immediately to avoid severe penalties and interest charges.