Re.: tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 April 2012
Dear Experts,
If a company earns only rental income during the previous year and the directors intend to withdraw that rental income from the company's current account by way of salary/director's remuneration, then is the company liable to deduct tax on the director remuneration u/s 192B, considering that there is no business activity in the company currently and it derives only rental income?
Kindly advise.
If a company earns only rental income during the previous year and the directors intend to withdraw that rental income from the company's current account by way of salary/director's remuneration, then is the company liable to deduct tax on the director remuneration u/s 192B, considering that there is no business activity in the company currently and it derives only rental income?
Kindly advise.
04 April 2012
TDS provisions have NOTHING to do with the income.
If a payment is made which attracts the provisions of TDS, then TDS HAS to be deducted irrespective of the fact that the assessee has earned any income or not.
Accordingly, TDS is required to be deducted.
If a payment is made which attracts the provisions of TDS, then TDS HAS to be deducted irrespective of the fact that the assessee has earned any income or not.
Accordingly, TDS is required to be deducted.
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