Tds on Director Salary Income
This query is : Resolved
12 April 2023
Dear Sir,
We are a manufacturing Company, in which there are 5 directors each director is getting a salary of Rs 50000 p.m. against which company is deducting Rs 1950/- pm as tds, now in the month of March 2023 director has given interest on their unsecured loan given to company against which 10% tds is charged by the company, now what tds should company deduct from March 2023 Salary, as Income tax on Salary income plus intt on unsecured loans income is higher than their monthly salary. kindly clarify this issue.
Thanks & Regards
We are a manufacturing Company, in which there are 5 directors each director is getting a salary of Rs 50000 p.m. against which company is deducting Rs 1950/- pm as tds, now in the month of March 2023 director has given interest on their unsecured loan given to company against which 10% tds is charged by the company, now what tds should company deduct from March 2023 Salary, as Income tax on Salary income plus intt on unsecured loans income is higher than their monthly salary. kindly clarify this issue.
Thanks & Regards
13 April 2023
10% TDS on interest is enough.
Balance TDS on salary may be deducted in March salary
Balance TDS on salary may be deducted in March salary
14 April 2023
Sir, TDS on Total income is higher than March Salary.
14 April 2023
Remit the balance TDS treat it as advance and recover it in April salary.
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
