12 March 2009
XYZ PVT.LTD. HAS PROVIDED SALARY TO IT'S DIRECTORS NO PAYMENT HAS BEEN MADE AGAINST THIS PROVISION DURING THE YEAR.AMOUNT OF SALARY SAY 8 LAKH P.A.
(1) WHETHER TDS HAS TO BE DEDUCTED ON PROVISION OF SALARY. SINCE AS PER SEC.192B TDS IS REQUIRED TO DEDUCTED AT THE TIME OF PAYMENT .
(2) WHETHER DIRECTOR OR EMPLOYEE CAN CLAIM SALARY INCOME FOR THE A.Y.2009-10. IF YES THAN WHAT ABOUT THE TAX LIABILITY ?WHETHER DIRECTOR HAS TO PAY TAX ON SUCH SALARY ?
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