TDS on salary
This query is : Resolved
27 September 2008
Salary provided by company is liable for TDS.
e.g. A company has provided salary to its staff for the year 2007-08 (A.Y. 2008-09) and no TDS was deducted and paid till today. Total amount of Salary payable for one staff membre after deducting Rs. 1,00,000/- u/s 80C is Rs. 3,00,000/-. Whether we should disallowed the salary while filing return of the company.
e.g. A company has provided salary to its staff for the year 2007-08 (A.Y. 2008-09) and no TDS was deducted and paid till today. Total amount of Salary payable for one staff membre after deducting Rs. 1,00,000/- u/s 80C is Rs. 3,00,000/-. Whether we should disallowed the salary while filing return of the company.
27 September 2008
no disallowance is required as sec 40(a)(ia) does not cover salay .
but penalty for non-deduction of tds will be imposed & intt is also reqd to be paid.
but penalty for non-deduction of tds will be imposed & intt is also reqd to be paid.
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