a company pays salary to director and deduct TDS @ 7.5%
director has to pay 30,000 income tax for current financial year after deducting all TDS.
can company deduct extra TDS in march instead of 7.5% to pay liablity of director
Menu
Tds on director salary
Replies (4)
There is no TDS rate for Salary, you should deduct average TDS. For example. Total Income Tax for One year is Rs.240000/- then you have to deduct 20000/- per Month. As per your above question you can deduct remaining TDS amount in March.
Yes, you can deduct TDS more than 7.50%
Normally. TDS deducted from April on estimated Salary from April to March ,if Salary exceeds basic examtion limit .
More TDS deduction is allowed.
Recent Topic
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
Related Topics
CAclubindia
