Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 March 2014
Please advise me on deduction of TDS in respect of Director Remuneration paid subsequently after determination of profit.
TDS for which year applicable and if intimation(Interest on TDS ) determined by department how to rectify the same?
TDS for which year applicable and if intimation(Interest on TDS ) determined by department how to rectify the same?
13 March 2014
well if you do pass the entry on 31 march, TDS becomes deductible on that day since 194J (assuming it is covered under 194J) applies to credit to the account of the payee or at the time of payment, whichever is earlier!
if the same however is covered under 192, then you need to deduct TDS when the payment is made to the director. In such a case, if the remuneration is paid in the subsequent year, TDS also should be deducted in that subsequent year only.
if the same however is covered under 192, then you need to deduct TDS when the payment is made to the director. In such a case, if the remuneration is paid in the subsequent year, TDS also should be deducted in that subsequent year only.
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