TDS ON SELF SALARY
This query is : Resolved
11 August 2022
Hi
I am running my own individual firm as a proprietor and taken tan no first time in my personal name in fy 2021 and now i wanna to put salary to myself because of running my firm without any employee and now i wanna to show my salary of myself as an expenses in my firm balance sheet.Kindly guide can i do like this ? what will be the provision of tds for salary I crossed exemption limit of income tax slab rate and what is procedure to file tds return for first time after taking registration in tds and tan ? Do i need to file nil return for fy 2021-22 as first time registration with nil tds liability in fy 2021-22?
I am running my own individual firm as a proprietor and taken tan no first time in my personal name in fy 2021 and now i wanna to put salary to myself because of running my firm without any employee and now i wanna to show my salary of myself as an expenses in my firm balance sheet.Kindly guide can i do like this ? what will be the provision of tds for salary I crossed exemption limit of income tax slab rate and what is procedure to file tds return for first time after taking registration in tds and tan ? Do i need to file nil return for fy 2021-22 as first time registration with nil tds liability in fy 2021-22?
11 August 2022
You can't give yourself salary in your own firm.
Message likes :
1 times
13 August 2022
From where you got the idea, of salary deduction by proprietor from his own proprietorship firm?
25 August 2022
Sir I have got this idea When i Heard news about Mr Makesh Ambani didnt take Salary during covid time from company for 2 years .So from that i picked that idea.
25 August 2022
Dear Rashmi Gandhi!!!!
Thanks for justified reply!!!!!
Thanks for justified reply!!!!!
25 August 2022
But didn't you make any difference between a director of public ltd. company and a proprietor of own firm?
For Mr. Mukesh & RIL the PANs are different, while you & your firm have same PAN...
For Mr. Mukesh & RIL the PANs are different, while you & your firm have same PAN...
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