19 March 2014
Where Director Remuneration is entered by journal entry at the end of the financial year, as Director Remuneration payable for the year. 1) The liability to deduct and pay TDS u/s 192B arises at the end of financial year or at the end of each month of that financial year? 2) and TDS Return in form 24Q is to be filed Quarterly or We can file for the whole year in Quarter IV Return?
19 March 2014
Logically you can not record expense for whole the year at one date only in the last month of the year as accrual concept exist so remuneration must be followed at the end of each month and tds should be paid accordingly.
20 March 2014
But if the Director Remuneration is not paid during the year can we deduct and pay TDS only once (i.e. at the end of the year)or we have to pay Interest for the delay of deduction and payment of TDS on monthly basis.
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