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Whether interest on director remuneration applicabel??

This query is : Resolved 

11 May 2015 since Management decided to increase salary in the month of feb after seeing there profit, and they decided to increase.

1.My question is whether interest to deducted for TDS?
2. How should i treat this in terms of to deduct TDS & Interest?

11 May 2015 The query is not clear.
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In case of salary, TDS payment is required to be made on the 7th of the next month when salary becomes due.

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If TDS has not been deposited in time interest @ 1.5% per month for delayed deposit is applicable. Here, the date of credit/payment which ever is earlier, will be considered as the date of payment.
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You have to re-compute the TDS liability, by considering the increment in salary and accordingly deposit the TDS amount with interest.

11 May 2015 Sir, But they decided on feb month only to pay/increase salary retrospectively form april to march.


What to do in that case??


11 May 2015 Deduct TDS in Feb itself as the increased salary of past months has become due only in the month of Feb.
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Deduct TDS as if the amount is being paid towards Salary for the month of Feb.
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