Regarding TDS On Salary & Interest/Discount/Vatav

 

Respected Sir/Madam,
 
My respective TDS related queries are as under:-
 
(1) A non- audited (As per F.Y. 08/09) proprietor ship company will pay Rs. 20000.00 per month as a salary by cheque to it’s one of employer for F.Y. 09-10
 
So Sir, In this regard my question is:-
 
Ø Is the said company liable to deduct TDS on salary of its said employer?
 
(2) An Audited (As per F.Y. 07/08) proprietor ship company purchased (In F.Y. 08/09) some amount of textile fabrics from one of his creditor with one month bill due date condition of the said good’s payment. If company will pay payment after one month of the said Bill Date it will liable to pay payment along with Interest/Discount/Vatav In this case Interest/Discount/Vatav amount will be more than Rs.2500.00
 
So Sir, In this regard my question is:-
 
Ø Is the said company liable to deduct TDS on payable Interest/Discount/Vatav of the said Bill?
 
           Waiting In your favorable reply & precious guidance in this regard.
 
Thanking You
Yours Truly
 
ANSAR U. KANGDA
SURAT-GUJARAT.
 
Mob- 93765 60200
E-mail:- firoz_welcome @ yahoo.com
Replies (1)
Originally posted by :ANSAR
"  
Respected Sir/Madam,
 
My respective TDS related queries are as under:-
 
(1) A non- audited (As per F.Y. 08/09) proprietor ship company will pay Rs. 20000.00 per month as a salary by cheque to it’s one of employer for F.Y. 09-10
 
So Sir, In this regard my question is:-
 
Ø Is the said company liable to deduct TDS on salary of its said employer?
 
(2) An Audited (As per F.Y. 07/08) proprietor ship company purchased (In F.Y. 08/09) some amount of textile fabrics from one of his creditor with one month bill due date condition of the said good’s payment. If company will pay payment after one month of the said Bill Date it will liable to pay payment along with Interest/Discount/Vatav In this case Interest/Discount/Vatav amount will be more than Rs.2500.00
 
So Sir, In this regard my question is:-
 
Ø Is the said company liable to deduct TDS on payable Interest/Discount/Vatav of the said Bill?
 
           Waiting In your favorable reply & precious guidance in this regard.
 
Thanking You
Yours Truly
 
ANSAR U. KANGDA
SURAT-GUJARAT.
 
Mob- 93765 60200
E-mail:- firoz_welcome @ yahoo.com
"


 

Dear Ansar,

In First Case nonaudited proprietorship firm not have any libility to deduct tax.beacuse

In second case also u don't need to deduct tax at source as intrest amt is not more than 5000 Rs.

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