Is Managing director an employee?
Querist : Anonymous
They started paying salary in march. Now the question from the view of Income tax is 'will the M.D be liable to pay tax on salary from nov, 09 or march 2010.
Querist : Anonymous
Yes means?? Kindly clarify
Querist : Anonymous
The company has started providing with the salary to M.D only from March. As per my opinion, it is as per the discretion of the contract between the company & M.D sine M.D is not been given any salary between nov.-march.
What i want 2 know is thatjust because the M.D got appointed in Nov, will he be liable to pay tax from Nov.??
BUT IF PAYMENT IS MADE ONE TIME FOR THE PERIOD OF NOV TO MARCH OR PAYMENT OF MARCH ONLY IS EXCESS OF BASIC EXEMPTION LIMIT IE 160000/- THEN REQUIRE TO DEDUCT TDS.
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