Applicability of tax liability on co.
This query is : Resolved
03 June 2011
When is the tax liability applicable on the co.for salary? Whether it is applicable when salary is booked or when pymt is made?
Pymt or accrual basis?
Pymt or accrual basis?
03 June 2011
Tax liability on Salary aise on actual payment entry made in the accouts whihever is earlier
03 June 2011
TDS Liability in the case of the Salary arises on the date when the payment is made not when the expenses is credited to books.
Sec 192 states that Any person responsible for paying any income chargeable under the head “Salaries” shall, at the time of payment, deduct income-tax
on the amount payable at the average rate of income-tax computed on the basis of the rates in forcefor the financial year in which the payment is made, on the estimated income of the assessee under this head for that financial year.
Sec 192 states that Any person responsible for paying any income chargeable under the head “Salaries” shall, at the time of payment, deduct income-tax
on the amount payable at the average rate of income-tax computed on the basis of the rates in forcefor the financial year in which the payment is made, on the estimated income of the assessee under this head for that financial year.
04 June 2011
For eg. if d salary of an employee in Feb. 2010 is say Rs.50000 & if d employee has left d job,then what is d tax liability on d company if d pymnt of d salary is made in April 2011??
04 June 2011
For eg. if d salary of an employee in Feb. 2010 is say Rs. 50000 & if d employee has left d job,then what is d tax liability on d company if d pymnt of d salary is made in April 2011??
05 August 2023
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
