Commission to Prop. firm
This query is : Resolved
20 May 2008
Can a Private Limited Company pay commission to the Proprietorship firm having Director and Proprietor are the same person.
If yes then company has to deduct the TDS on commission or on Salary?
If yes then company has to deduct the TDS on commission or on Salary?
20 May 2008
you will follow comapny law & deemed income of director that is important if you are given commission then it is deducted u/s194C of the income tax act
20 May 2008
if this paymeent is in nature of commission, deduction will be made u/s 194H.
20 May 2008
tds on commission needs to be deducted as the nature of payment is commission (but not salary) and the TDS rate is 11.33%(10% plus surcharge @10% on tax plus edu. cess 3% on 11% which comes to .33%)
R.V.RAO
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- TCS ON SOFTWARE SALES
- Income Type for interest from government bonds
- TDS RATE ON RENT PAID TO NRI
- Not a CA , can we prepare balance sheet
- Tax treatment of debt mutual funds
- SHARE TRANSFER PRIVATE LIMITED COMPANY
- Issue of gst e invoice
- Gstr 9 2023-24
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
