tds on director fees
This query is : Resolved
Abhishek Shah
(Querist)
24 April 2009
My company has 3 directors and pays to them a salary of Rs 10000p.m (Rs 1,20,000 p.a)
The directors have other business also of their own.
Should the company deduct the tds on directors salary which it pays to them monthly (even though the total payment by the company to directors is below taxable limit), if yes at what rate.
Should the company ask from the directors their other source of income and their investments and then deduct tds prorata or just cut it @ 10.33%
The directors have other business also of their own.
Should the company deduct the tds on directors salary which it pays to them monthly (even though the total payment by the company to directors is below taxable limit), if yes at what rate.
Should the company ask from the directors their other source of income and their investments and then deduct tds prorata or just cut it @ 10.33%
CA.ViVeK M ACA
(Expert)
24 April 2009
There exsist the employer employee relation ship with the director and employee and hence TDS u/s 192 shall be applicable.
Abhishek Shah
(Querist)
24 April 2009
Rajesh Kumar
(Expert)
25 April 2009
TDS should be deducted as salary income.
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