Director's remuneration

Save Share

This query is : Resolved

Sankar Chakraborty (Querist)

08 October 2011 Dear Experts,

Please help me on the following matter:

Normally we pay to our director Rs 0.75 lac per month after Tds deducted

We have paid advance director’s remuneration total of Rs. 1.25 lac by cash (shown in books under current asset ledger name is advance against director’s remuneration ) in f.y. 10-11. but not deducted any TDS against the above payment

Now in f.y. 11-12 what to do ? should it be adjust against current year’s remuneration ? actually we have already paid current years remuneration upto july’11 and deducted tds is already deposited in bank

Please help me what to do ?

CA Chitresh Gupta

CA Chitresh Gupta (Expert)

08 October 2011 Please note you have given a "advance against director remuniration", not "advance director remuneration".

Hence, no TDS on the same was deductiable in FY 2010-11.

IN FY 2011-12, you can adjust this advance against subsequent months Remuneration.

Regards

CA PRAVIN

CA PRAVIN (Expert)

08 October 2011 In case of FY 2010-11 u paid advance [remuneration] in cash. Sec 269SS has been attracted.

In this year u can adjust this advance against subsequent months for remuneration.

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