Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2012 Sir,
Ours is a pvt ltd co. In our company our MD remuneration is Rs.30,000/- pm. From Apr'11 we have not paid him his remuneration and we just booking the expenditure (payable). We have not paid any TDS. Now we want to pay him Apr'11 to till date total remuneration. So how to calculate TDS.
Thanks in Advance

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

02 August 2012 TDS needs to be done on amount paid or credited. The deduction date shall be computed accordingly. Do hesitate to pay the interest and penalty. Do not forget that you are claiming the expenditure since April 2011.

CA Prashant Gupta

CA Prashant Gupta (Expert)
Follow

02 August 2012 first check what is part of remuneration. if it is only salary, then in my point of view, you can argue that TDS on salary is due in next month when you pay salary.
So if you didn't pay the salary till yet, you can fight on this ground.
let's see other experts advice also

Upgrade to CAclubindia Pro. Subscribe Now!

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

02 August 2012 TDS is applicable on payment or CREDIT whichever is earlier.