Director salary

Tax planning 593 views 5 replies

Dear Sir / Madam,

1) what are the general payables to Directors from a Pvt Ltd Company, apart from their salary? If any other payments are made to them, do they attract Tds?

2) On what criteria, bank loans are based on? Whether by total income? or by taxability? More details about this?

3) What are the conditions for Director salary in view of Income tax?

4) Which ITR form should be used for this?

Early reply would be greatly appreciated.

Thanks / Maya. 

Replies (5)
1. No, other payments not available. TDS deductible on his salary.
2. company - Total turnover based and Stock, Current Assets (-) Liability . In case individual - His total Income
3. His salary above income ceiling then TDS want to be deductible
4. ITR 5 or any other ITR 6
Thank you very much for your timely reply. Then, an individual who is getting director salary as income....dont comes under Itr form 1' ah???
He can file ITR 1 and also other forms like 3...
Maya, are in Tamil...
Thanks for your reply. Yes, am in Tamilnadu...
You Are Welcome Ms. Maya....


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