certain payments allowable on payment basis

This query is : Resolved

ankur (Querist)
Follow

26 September 2008 MOST URGENT

A pvt ltd co gives the commission on certain percentage of profit to its directors,(treated as part of salary) the balance sheet signed by directors on 31st july 2008.for the year ended 31.03.08 Rs 1 crore was debited in profit and loss a/c for the year ended 31.03.08

now the query is:
1 Is commission should be paid on or before the filling of income tax return i.e.30.09.08. ?
2 TDS on Commission(as applicable salary rates) should be deposited before 30.09.08 or not.?
3 while these commission income will be included in the directors hand in current year income.under the head salary (on payment basis)

kindly advise asap. since last date is 30.09.08 for filling of IT Return.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

27 September 2008 1.No such stipulation.
2.At the time of payment.
3.On receipt basis.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Shameem ahmed

T.N.Reddy

6380177036

Amit Bhatkar

sachingurav

Subscribe Now

certain payments allowable on payment basis

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Accountant

CA Final

GST CONSULTANT

GST CONSULTANCY