TDS deduction against provision for Performance Bonus
This query is : Resolved
07 April 2009
Assessee is making provision for performance bonus as on year end & will be paying it before filing of return.
Whether to deduct TDS on salary at the time of provision for that financial year.in other words whether section 192 will be attracted at the time of provision.
Whether to deduct TDS on salary at the time of provision for that financial year.in other words whether section 192 will be attracted at the time of provision.
07 April 2009
No. Section 192 is specifc that at the time of payment of salaries tds has to be deducted. Therefore you can postpone the deduction on bonus till the date of payment. Provision need not be considered under section 192 for tds on salaries.
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