TDS on salary and rent to a director
This query is : Resolved
15 September 2009
A Pvt. Ltd Co. pays rent and salary to a director in a lumpsum amount at the end of the year.Also, it pays the TDS on both at the time of making the payment. Is it OK with the co. or it should be paid monthly?
15 September 2009
TDS on rent is attracted on payment or on making provision for the expenditure, whichever is earlier. If the company does not make provision for rent on a monthly or any other basis, prior to making the lumpsum payment, it is OK.
So far TDS on salary is concerned, it is payble on making the payment. Provisions in the books is not relevant. As TDS is deducted at the time of making the lumpsum salary payment, it is OK.
So far TDS on salary is concerned, it is payble on making the payment. Provisions in the books is not relevant. As TDS is deducted at the time of making the lumpsum salary payment, it is OK.
15 September 2009
Right, same as above
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Rental income gst and it purpose
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Experts need help
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Reprocessing of rectification order AY 2025-26
- Putting a heading on received mail
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
