TDS on Directors Remuneration
This query is : Open
02 February 2010
Dear Sir,
Ours is a public ltd. co. Co. decided to give remuneration to 2 of the directors now for the F.Y. 2009-2010.
My question is:
1) Whether TDS is to be deducted on it? In which section? Is there any way to escape from tax liability?
2) Whether any board / members resolution is to be passed?
3) Any other tax compliance's to be done?
Plz it is urgent.
Thanks
Ours is a public ltd. co. Co. decided to give remuneration to 2 of the directors now for the F.Y. 2009-2010.
My question is:
1) Whether TDS is to be deducted on it? In which section? Is there any way to escape from tax liability?
2) Whether any board / members resolution is to be passed?
3) Any other tax compliance's to be done?
Plz it is urgent.
Thanks
02 February 2010
Director salary will be treated as salary and TDS will be deducted as per provisions of salary.
02 February 2010
Sir,
Thanks for reply
Whether interest is to be paid for late deduction & deposit of tds on salary, as tds should be deducted from starting.
Sir, in order to save interest liability, can v do that board passed resolution in jan so no late deduction of tds on salary.
is this feasible / any other way
Thanks for reply
Whether interest is to be paid for late deduction & deposit of tds on salary, as tds should be deducted from starting.
Sir, in order to save interest liability, can v do that board passed resolution in jan so no late deduction of tds on salary.
is this feasible / any other way
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