Tds on salary
This query is : Resolved
21 January 2013
A Director of a pvt ltd co is entitled a monthly salary of Rs1,00,000 for the FY2011-12.Till today no tds against salary is paid for the same FY2011-12.In this month Jan2013, howmuch tds will be paid if toal investment u/s 80 1s Rs1,00,000 & what will be the interest amount for the same. If after paying only TDS amount Against the above mentioned salary (exclusive the interest amount) in jan'13,Income tax return is filled in March'13,What is the provision as per IT Act to pay the interest amount against the above salary amount.For that purpose, would the IT Dept. sent a demand notice for the same in the next financial year?
30 August 2013
you need to calculate the tds and pay with interest of 1% per month or part of the month
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