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TDS / PT on Directors Remuneration

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 February 2011 1.Pl let me know when Should TDS on Directors remuneration be remitted when provided at the year end.

2. Should Professional Tax be deducted from Directors Remuneration of Pvt. Ltd. Co.

3.Pl let me know the computation of Rent Free accommodation provided to an employee during the financial year 2010-11 ( AY 2011-12)

15 February 2011 1.There is no difference for the remmitance of the TDS of the directors remunration.
it is just like normal salaried employees.
if it was deducted at the year end , it shoul be paid by June15th

2.no,Professional tax is the expenditure of the company ,It need not be deducted form the remuneration.

3.If the accomodation is taken on lease ...
then 15% of the salary or rent paid which is less...

else...

if the population is
more 25 lacs..............15%
upto 25 more than 10......10%
less than 10..............7.5%
% on salary=basic+DA+bonus+commission+fees....



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