a pvt ltd company transferred director remuneration ( rs 6 lac per director) payable for the fy 2012-13 in the unsecured loan a/c of respective directors. now when tax will be deducted ie when remuneration is paid to director or when the remuneration payable is transferred to unsecured loan a/c. please explain in detail.
2 Replies
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 14 September 2013
Technically, the TDS should have been deducted when the amounts were transferred to the unsecured account.
sanjay singhal
(CA)
(987 Points)
Replied 14 September 2013
TDS will applicable us 192 of the income tax act.
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