Payment of director's income tax liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 September 2013 Dear Sir/Madam,

While auditing a company, the tax liability of a director was paid by the company without deducting TDS monthly.

Can you please answer my below 2 queries:
1) Is Director's income tax liability to be debited to his salary account or can it be paid by the Company's pocket as an incentive to his value addition to the company. If yes, can it be accounted under "Rates & taxes account", if not, under which account..?
2) If TDS is not debited monthly but
debited in March after considering entire Deductions, is there any penalty for not deducting TDS monthly ?

Ajay Mishra

Ajay Mishra (Expert)
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10 September 2013 Hi

Read section 200 of the Companies Act, 1956.

In case of TDS on director remuneration, go to the following link:

https://www.caclubindia.com/articles/tds-on-remuneration-paid-to-directors-13422.asp#.UO-tTuSE2Jw

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