Dear Members
Mr. A is director in two or more companies from which he is getting remuneration. Now my queries are:-
1. TDS should be consider separately for both the company?
2. Should exemption limit be considered for both the company separately?
3. Can one company merge salary from, another company and deduct TDS? And other company will not deduct TDS?
4. What is the correct treatment for the above case?
Thanks in advance..
Hi,
1. Even if any one company deducts the tax, it will suffice. However, the company which is not deducting TDS needs to ensure that the other company has deducted tax on salary earned from the company which is not deducting TDS.
Alternativel, and more appropriately, let both companies deduct TDS on part of the salary paid by them and the director can pay the differential tax in the form of Advance Tax...
2. Exemption and slab rate are to be applied for assessee on his entire income and not separately for income earned from different employers..
3 & 4. Refer Answer 1...
| Originally posted by : Dharmaraju | ||
 |
Hi, 1. Even if any one company deducts the tax, it will suffice. However, the company which is not deducting TDS needs to ensure that the other company has deducted tax on salary earned from the company which is not deducting TDS. Alternativel, and more appropriately, let both companies deduct TDS on part of the salary paid by them and the director can pay the differential tax in the form of Advance Tax... 2. Exemption and slab rate are to be applied for assessee on his entire income and not separately for income earned from different employers.. 3 & 4. Refer Answer 1... |
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AGREED.
agree with above it is advisable both the company deduct the Tax
can a CA not in practice get salaryt from 2 companies
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