cherisha patel (CA) (88 Points)
16 May 2013Hello friends...
In case of a Pvt Ltd Co.,
SALARY to director has been booked for the entire year 2012-13
but the payment has been done in jan and march ( and that too part payment)
So how should we consider TDS implications here?
Shud we deduct tds on entire accrued amt or only the paid amt?
Also how should we file the tds return?
Only last quarter?
AMIT KUMAR JAIN
(CA)
(94 Points)
Replied 16 May 2013
Your Query is not clear. Kindly clear the below mentioned points:
(a) When the Salary was Booked;
(b) When the Salary was paid:
(c) When the Tax was Deducted; and
(d) When the Tax Deducted was paid to the credit of Central Government?
Further, TDS on Salary is to be deducted on the Salary Paid or Salary Due which ever occurs earlier.
rajeev
(Accountant)
(159 Points)
Replied 22 May 2013
Hi
Normally Salary is booked every last day for that month as per working.
& If TDS is applicable should be deducted & that amount must be deposited before due dates.
when it is paid not important,when you booked you must deduct TDS.
& you must file TDS return before due dates.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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