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TDS on salary from two company

swohra (none) (537 Points)

30 June 2011

Dear Members

Mr. A is director in two or more companies from which he is getting remuneration. Now my queries are:-

1. TDS should be consider separately for both the company?

2. Should exemption limit be considered for both the company separately?

3. Can one company merge salary from, another company and deduct TDS? And other company will not deduct TDS?

4. What is the correct treatment for the above case?

Thanks in advance..

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4 Replies

RAJU (LEARNER) (1089 Points)
Replied 30 June 2011

Hi,

1. Even if any one company deducts the tax, it will suffice. However, the company which is not deducting TDS needs to ensure that the other company has deducted tax on salary earned from the company which is not deducting TDS.

Alternativel, and more appropriately, let both companies deduct TDS on part of the salary paid by them and the director can pay the differential tax in the form of Advance Tax...

2. Exemption and slab rate are to be applied for assessee on his entire income and not separately for income earned from different employers..

3 & 4. Refer Answer 1...

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CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert) (85930 Points)
Replied 30 June 2011

Originally posted by : Dharmaraju
	Hi, 1. Even if any one company deducts the tax, it will suffice. However, the company which is not deducting TDS needs to ensure that the other company has deducted tax on salary earned from the company which is not deducting TDS. Alternativel, and more appropriately, let both companies deduct TDS on part of the salary paid by them and the director can pay the differential tax in the form of Advance Tax... 2. Exemption and slab rate are to be applied for assessee on his entire income and not separately for income earned from different employers.. 3 & 4. Refer Answer 1...