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
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Tds on director salary
Replies (4)
Quick Summary
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.
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