mani
24 April 2008 at 09:01
A Director of a company, which was running under loss for past 8 years, had not claimed his salary and no provision has been made in the books as salary payable at all for last 8 years. Now the company has revived and started showing profits. Can he claim his salary in arrears for the last 8 years and what is the impact in company books and the personal taxation of the director ?
mani
24 April 2008 at 08:59
A trade association registered under socities act and having approval of registeration under section 10 & 11 of Income tax act collects membership fees towards ordinary membership and life membership fees. Do they have to collect service tax on this fees ?
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Professional Tax - Levy on Gross Salary or Net Salary ?
This question is in relation to Professional Tax Applicable in Karnataka.
Section 4 of THE KARNATAKA TAX ON PROFESSIONS, TRADES, CALLINGS AND EMPLOYMENT ACT, 1976 states as quoted below:
4. Employer's liability to deduct and pay tax on behalf of employees.- The tax payable under this Act by any person earning a salary or wage, shall be deducted by his employer from the salary or wage payable to such person before such salary or wage is paid to him, and such employer shall, irrespective of whether such deduction has been made or not when the salary or wage is paid to such persons, be liable to pay tax on behalf of all such persons:
Unquote.
My view is that the words above "BEFORE SUCH SALARY OR WAGE PAID TO HIM" means the net salary. Also the words "ANY DEDUCTIONS" from salary is not included in the act.
So is my point view correct as per the law?