Income tax

This query is : Resolved

venkatesh k (Querist)
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29 March 2013 MY DIRECTOR IS PAID A SALRY EVERY MONTH.HE IS ALSO OWNER OF ANOTHER COMPANY. DUE TO FINANCIAL CRISIS THE SALARY FOR THE YEAR 2012-13 IS NOT PAID,BUR PROVIDED IN THE BOOKS.
MY QUERY IS

1) WHETHER INCOME TAX ON PROVISION MADE SHOULD BE DEDUCTED & PAID.

2) SINCE HIS SALARY INCOME IS NIL, FORM 16 ISSUED BY THE COMPANY CAN BE CLAIMED AS REFUND FROM IT DEPT.
3) SHOULD INCOME TAX BE DEDUCTED ONLY WHEN SALARY IS PAID PHYSICALLY.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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29 March 2013 TDS must be deduted whether salary is paid or not

Form 16 will be issued

No, TDS will be deducted when salary is due

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