TDS ON SELF SALARY

This query is : Resolved

sachin Alwadhi (Querist)
Follow

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?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
Follow

11 August 2022 You can't give yourself salary in your own firm.

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

13 August 2022 From where you got the idea, of salary deduction by proprietor from his own proprietorship firm?

sachin Alwadhi

sachin Alwadhi (Querist)
Follow

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.

sachin Alwadhi

sachin Alwadhi (Querist)
Follow

25 August 2022 Dear Rashmi Gandhi!!!!

Thanks for justified reply!!!!!

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

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...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

divakar podaturu

SHRI HARIRAO

Dalbir Singh Wadhera

Rajesh Surapaneni

Sandeep Ranjan

Subscribe Now

TDS ON SELF SALARY

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

GST CONSULTANT

GST CONSULTANCY

CA Final

Manager- Finance and Compliance

Accountant