plz reply my query b4 15 march

i am running a pvt ltd co,doing biz in chemical trading..with me an my parents are the 3 directors in it.

following is my questions:-

1.i want to know the list of indirect expenses which are allowed (name of all the overheads)

2.i want to reduce my net profit as far as possible,methods to do so.

3.i want to pay salary to directors,how much to pay,is it dedductable from net profit?tds applicable?

4.i have shares in my personal name,have pledged them to the bank(loan against shares) and have got a OD of 20lacs,can i put this 20lac in my pvt ltd co?

if yes,then is tds has to deducted?and if yes,at what rate? and do i have to file quaterly tds returns?

5.i receive goods by way of trucks,is service tax payable by me or the transporter?is tds applicable?

6.when is Tax Collected at Source appilcable in my pvt ltd co?

7.i have 4 staff,how much salary should i show?(clerical staff),actual salary is not more then 3000/-

8.lastly,can the director put his own funds in his pvt ltd co?(eg i have 5lac in my own bank account)(not by way of pledged share)actual funds..if yes,again is tds to be deducted?and is regular introduction and withdrwal of personal fund allowed?

Dear Friend

1. Indirect Expenses means which dont relates with manufacturing. so it can Staff Welfare, Festival Expenses, Telephone Expenses, Salary, Office Rent, Vehcile Running, Repair & Main., Conveyance, etc...

2. to say that its not legal. so adjust your profit by taking all benefits. dont show more expenses (not so much).

3. Yes you can pay salary to directors upto N amount. Yes, TDS will be applicable if there salary is in taxable limit otherwise not. its it applicable you have to deposit tax on monthly basis and file your return on quartely basis. Rate is Tax Amount / months of job in a year.

4. Its not practical or depend on Bank Rules.

5. if you have to pay amount of Frieght then u have to pay Service Tax & yes you have to deducted TDS if annual payment is 50 k or more OR one time payment is 20k or more

6. TCS is applicable on selected items i.e Scrap, Wine, Steel, etc so pls check your applicablity.

7. you should show actual salary you should not claim in P & L A/c more than that. otherwise if u wanna take you can but its not legal its illegal and will be punishable with fine.

8. Yes you can purchase shares of this amount or put as unsecured loan to company from Director.

for any further query pls feel free to ask

Regards