TDS on salary

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Hashim (Querist)
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06 May 2010 (1) What is the rate of TDS deducted on renumeration to Directors in a pvt ltd co. All the directors fall under 30% Income Tax slab.

(2) Which challan is used for depositing the TDS amount for Directors Renumeration in a pvt ltd co.. Can challan 281 be used. Under which code.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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06 May 2010 (1) compute amount of tds to be deducted after considering other incomes and investment details disclosed by directors. If directors want to file own return and are not certain regarding other income. Deduct TDS on amount of Remuneration without considering exemption limit and 80c deduction. Its my view opinion of other expert is solicited.
(2) Challan used is ITNS 281 under sec 92B.(if not a govt co.)

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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06 May 2010 For tds purpose, Director Remuneration will be treated as such salary to employee.
We required declartion for proposed investment at starting of f y. and calculate average rate of TDS.

Gajendra R. Tiwari

Gajendra R. Tiwari (Expert)
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06 May 2010 you just treat director as normal employee for tax deduction and deduct & deposit tax as u deduct & deposit in the case of employees

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