Tds applicability on director remuneration
This query is : Resolved
akash shakya
(Querist)
01 June 2018
Sir,
I'm working with pvt ltd company here till last there is no tds deduction on remuneration,now how to treat Director payment he is also owner of a company please suggest me what is the nuture of TDS and what percentage is deductible,
if possible with Example please do.
I'm working with pvt ltd company here till last there is no tds deduction on remuneration,now how to treat Director payment he is also owner of a company please suggest me what is the nuture of TDS and what percentage is deductible,
if possible with Example please do.
Nikhil Kaushik
(Expert)
01 June 2018
if it is salary, then you need to compute TDS at the prevailing tax rates and deduct the tax under 192B
CA Suresh Jain
(Expert)
02 June 2018
The payment made to him is a salary only and therefore calculate his Income as if you filing his IT return, allow exemptions and allow him all deductions from Gross total Income except for section 80G. whatever tax comes pay is as TDS under the head salary. File TDS return.
akash shakya
(Querist)
02 June 2018
thanx Nikhil & Suresh Sir for ur support.....:)
Nikhil Kaushik
(Expert)
02 June 2018
you are welcome Akash.
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