In a Private limited company one director is getting monthly Rs.40000 salary (including Rs.2000 as TDS). TDS is deducted @ 5%. Is it right at what % i should deduct TDS on partner's salry?
vinayak c. chavan (CPT passed) (1011 Points)
05 May 2012In a Private limited company one director is getting monthly Rs.40000 salary (including Rs.2000 as TDS). TDS is deducted @ 5%. Is it right at what % i should deduct TDS on partner's salry?
Mihir Doshi
(B.Com, CA, CS, LLB)
(2187 Points)
Replied 05 May 2012
Dear Vinayak,
Just go through the New TDS rate as announced by the Honble FM in this budget. New subsection into section 194J is inserted.....194J(1)(ba) which says TDS will be deducted on any amount of remuneration or commission paid to Director @ 10%.
Thanks
Mihir Doshi
sateesh pajjuri
(audit executive)
(22 Points)
Replied 19 November 2012
monthly I'm paying Rs.194400 rent
what is the tds entry
and how much can i deduction possible
sateesh pajjuri
(audit executive)
(22 Points)
Replied 19 November 2012
ramesh travelling advance given to madu Rs.10000 .after complition of tour madu Rs.1000 amount refunded ?
what are journal entry's of this question?
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