Commission to Prop. firm
This query is : Resolved
20 May 2008
Can a Private Limited Company pay commission to the Proprietorship firm having Director and Proprietor are the same person.
If yes then company has to deduct the TDS on commission or on Salary?
If yes then company has to deduct the TDS on commission or on Salary?
20 May 2008
you will follow comapny law & deemed income of director that is important if you are given commission then it is deducted u/s194C of the income tax act
20 May 2008
if this paymeent is in nature of commission, deduction will be made u/s 194H.
20 May 2008
tds on commission needs to be deducted as the nature of payment is commission (but not salary) and the TDS rate is 11.33%(10% plus surcharge @10% on tax plus edu. cess 3% on 11% which comes to .33%)
R.V.RAO
R.V.RAO
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