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Tds tcs adv tax

As per sec 191(2) eligible startup means??

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asdfg S.

asdfg S.

CA Inter

0

27-Feb-21 11:01

17

Answers (6)

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I had doubt regarding that provision with salary and tds Is the year of charging in under head salary will be the year in which it is allotted ??


asdfg S.

asdfg S.

CA Inter

0

03-Mar-21 22:16

It refers to Sec 80IAC. And as per that "eligible start-up" means a company / LLP engaged in eligible business and incorporated during 1/4/16 to 1/4/21 and total turnover < Rs.25 crores for PY relevant to AY where deduction claimed and also it holds eligible business certificate from Inter-Ministerial Board of Certification


sudha reddy

sudha reddy

Moderator

02-Mar-21 10:15

I had doubt regarding that provision with salary and tds Is the year of charging in under head salary will be the year in which it is allotted ??

When the employee has exercised the option, basically agreed to buy; the difference between the FMV (on exercise date) and exercise price is taxed as perquisite. The employer deducts TDS on this perquisite. This amount is shown in the employeeâ??s Form 16 and included as part of total income from salary in the tax return.


sudha reddy

sudha reddy

Moderator

04-Mar-21 12:32

When the employee has exercised the option, basically agreed to buy; the difference between the FMV (on exercise date) and exercise price is taxed as perquisite. The employer deducts TDS on this perquisite. This amount is shown in the employeeâ??s Form 16 and included as part of total income from salary in the tax return.

From the FY 2020-21, an employee receiving ESOPs from an eligible start-up need not pay tax in the year of exercising the option. The TDS on the â??perquisiteâ?? stands deferred to earlier of the following events: Expiry of five years from the year of allotment of ESOPs Date of sale of the ESOPs by the employee Date of termination of employment


sudha reddy

sudha reddy

Moderator

04-Mar-21 12:32

Thanks a lot


asdfg S.

asdfg S.

CA Inter

0

04-Mar-21 12:50

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