Salary expense of employees
This query is : Resolved
10 April 2020
Dear Sir,
I am giving Salary every month of Rs. 30,000/- which I don't want to show it as a Salary expense in my Books of Accounts (Individual). Is there any other head in which I can show this expense which does not require TDS to be deducted. My nature of income is Contract income on which TDS is deducted U/s. 194C.
Please help.
Regards,
Divyesh Jain
I am giving Salary every month of Rs. 30,000/- which I don't want to show it as a Salary expense in my Books of Accounts (Individual). Is there any other head in which I can show this expense which does not require TDS to be deducted. My nature of income is Contract income on which TDS is deducted U/s. 194C.
Please help.
Regards,
Divyesh Jain
10 April 2020
Upto 5 lacs salary no need of any TDS.
11 April 2020
That is ok. I want to decrease my 2 employees whom I am paying Rs. 30,000/- in total as if I show these additional employees as a Salary expense I will fall under other statutory obligations like PT, PF & ESIC.
Please suggest the type of expense I can show apart from Salary.
Please suggest the type of expense I can show apart from Salary.
11 April 2020
Please take opinion personally from your known tax consultant
11 April 2020
PT, PF & ESIC. Not applicable in case of 2 employees.
13 April 2020
@ CA R SEETHARAMAN sir, You are right, but from the additional info given by Mr. Diyesh Jain, it is clear that he want to reduce the total employment by 2 to reduce number of employees below 10.
15 April 2020
@ CA Suresh Jain sir, yes that is only the case since I don't want to increase the number of employees and the 2 employees which I am talking about are my personal employees. Rest 8 are on contract basis.
15 April 2020
It is why I suggested you to contact an accounts/taxation expert
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