Income tax
This query is : Resolved
29 March 2013
MY DIRECTOR IS PAID A SALRY EVERY MONTH.HE IS ALSO OWNER OF ANOTHER COMPANY. DUE TO FINANCIAL CRISIS THE SALARY FOR THE YEAR 2012-13 IS NOT PAID,BUR PROVIDED IN THE BOOKS.
MY QUERY IS
1) WHETHER INCOME TAX ON PROVISION MADE SHOULD BE DEDUCTED & PAID.
2) SINCE HIS SALARY INCOME IS NIL, FORM 16 ISSUED BY THE COMPANY CAN BE CLAIMED AS REFUND FROM IT DEPT.
3) SHOULD INCOME TAX BE DEDUCTED ONLY WHEN SALARY IS PAID PHYSICALLY.
MY QUERY IS
1) WHETHER INCOME TAX ON PROVISION MADE SHOULD BE DEDUCTED & PAID.
2) SINCE HIS SALARY INCOME IS NIL, FORM 16 ISSUED BY THE COMPANY CAN BE CLAIMED AS REFUND FROM IT DEPT.
3) SHOULD INCOME TAX BE DEDUCTED ONLY WHEN SALARY IS PAID PHYSICALLY.
29 March 2013
TDS must be deduted whether salary is paid or not
Form 16 will be issued
No, TDS will be deducted when salary is due
Form 16 will be issued
No, TDS will be deducted when salary is due
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