In a pvt ltd company Director Taking 10 lakhs salary PM , company Deducting TDS 3.5 lakhs pm and remaining salary payable to Director pm, this transaction booked up to (April'16 to Nove'16), In total Salary TDS paid every month but net salary is outstanding, Now director take a decision to cancel my salary from Company .
If Company cancel the Salary , how the company retrieve the TDS amount on Salary (TDS paid and Return filled every Quarter)
14 March 2017
The company can't claim the amount of TDS deposited to govt. account. So its better to disburse the salary and the director can claim the credit of TDS deducted in his/her IT return. And hoping that from Dec'16 onwards u r not deducting TDS from Director's remuneration.
CAclubindia
