Ours is a pvt ltd co. with two directors. Last year one of the directors was given a monthly consolidated salary of Rs.25000 and provided with an accomodation annual rent 252000/-. The director has not been given any salary this year because of low turnover. However, the accomodation at Rs.252000 per annum continues to be provided.
Q.1. What if the director is paid a lower salary i.e. less than Rs.25000 to say Rs.10000/- per month and the the perquisite value of accomodation is calculated @ 15% of his salary ? A Board Resolution to this effect?
Q2. What if no salary is paid to the director? How is the perquisite value of Accomodation be calculated ?
Q3. If salary is paid or provided in lumpsum in March 2010, how is the TDS to be calculated ?
Ashok Monga
CAclubindia
