15 December 2008
we have make a provision entry for Directors Commission (Section Code 92B) with TDS deduction and credited to directors account on 31-03-2008 but till date the net commission after deducting TDS was not paid to directors what is the due date for TDS Payment to Govt.pl clarify till date we have not paid the TDS also we have to pay the interest on late payment of TDS or not
15 December 2008
Code 92B is for section 192 for payment to employees other than government employees. Will commission cover under this. According to my knowledge for commission,code is 94H and section is 194H.
15 December 2008
Commission paid to a director is profit in lieu of salary and taxable as salary income. Tax at source is deductible u/s 192 and the same is to be deposited within 7 days of the following month.
16 December 2008
so the due date is 07/04/2008 kindly inform we have to pay the interest on late payment of TDS from april on wards.but we have not paid the directors till the date just credited in personal ledger and the same commission is claimed as expenditure in the financial year 2007-08
CAclubindia
