T.d.s.

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Tabrej Patel

Tabrej Patel (Querist)
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16 September 2011 IT IS NECESSARY FOR PVT. LTD. COMPANY TO CUT TDS ON SALARY PAID TO DIRECTORS

CA Navin Jain

CA Navin Jain (Expert)
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16 September 2011 YES, TDS IS APPLICABLE ON DIRECTOR REMUNERATION UNDER SEC 192

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Tabrej Patel

Tabrej Patel (Querist)
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16 September 2011 SIR PLS TELL ME RATE % OF TDS FOR THE SAME

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 September 2011 TDS deduction is required only if their income is taxable. No fixed percentage.

Say they receive Rs 5 Lacs p.a.

Exemption limit Rs 1.80 lacs

Say investment u/s 80C and 80D is Rs 1.20 Lacs.

Then TDS to be deducted on income of Rs (5-1.2) =3.8 lacs as per slab.

Exempt upto 1.8 lacs so TDS to be deducted on 2 lacs @10.3%.

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CA Navin Jain

CA Navin Jain (Expert)
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16 September 2011 tax to be deducted at average of income tax

Hari Beldona

Hari Beldona (Expert)
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16 September 2011 In case of salary income TDS is not based on percentage, the following steps are to be followed:
Compute salary as per Section 192 of the Income Tax Act.
2.Find out Taxable salary income
3.Find out tax on Taxable Salary
Deduct the arrived amount as above

Deduction can be made on adhoc basis every month and compute as above in the month of March :
TDS=Income Tax computed U/s 192- monthly deducted amount so that it will not be burden to deducted at a stroke.

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