TDS & salary Querry
This query is : Resolved
26 November 2008
Employee is working in Pvt Ltd company at 35000 pm & company pays salary by cheque to him.Now to avoid tax for employee, company is planning to show the wife of employee (wife is a graduate & doing Distant Learning MBA) as consultant or data entry opeartor in company books on part time basis. The company wants to pay a cheque of Rs 30000 in employee name for salary & balance Rs 5000 in wife's name as contractual/professional fees.Employee & wife will show the income in Income tax return alos.
wife has no other income.
What precaution to be by company and employee before doing so? what about TDS?
Plesae advice.
Regards
yogesh Modi
wife has no other income.
What precaution to be by company and employee before doing so? what about TDS?
Plesae advice.
Regards
yogesh Modi
26 November 2008
YOU WILL DEDUCT TDS IF PAYMNETS ARE MORE THAN 20000/-DURING THE YEAR U/S 194J
YOU WILL APPOINT HER FOR PROFESSIONAL WORK AND AGGREMENT IS MADE BETWEEN CO.& LADY
YOU WILL APPOINT HER FOR PROFESSIONAL WORK AND AGGREMENT IS MADE BETWEEN CO.& LADY
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Relief u/s Section 89
- REGARDING SECTION 44AE
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
