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| This query is : Resolved
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sriram
( Author )
21 June 2012
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is directors remuneration considered as salary for purpose of 40(a)(i)if that remuneration is paid abroad and TDS u\s 195
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CA CS Amit S. Kedia
( Expert )
21 June 2012
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Dear Mr. Sriram,
If the director are non resident then Section 40(a)(i)shall be applicable and TDS will be deducted u/s 192 and not u/s 195.
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sriram
( Author )
21 June 2012
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Tks for response and wat if tds u/s 195 is made but tax deposited after due date of 200(1)
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CA CS Amit S. Kedia
( Expert )
21 June 2012
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Dear Mr. Sriram,
If the directors are non resident and TDS is not deducted u/s 192 then salary paid will be disallowed u/s 40(a)(iii)
If the head is wrongly mentioned then it can be corrected within 7 days by informing the respective banks, else AO tds will rectify the mistake.
The TDS is deposited after the due date then interest will paid @1.5% per month or part of the month from the date of deduction
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sriram
( Author )
21 June 2012
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Tks alot amit for ur efforts
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sriram
( Author )
21 June 2012
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Amit can u get were its said tat 192 is applicable for remuneration paid to non residents
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CA CS Amit S. Kedia
( Expert )
21 June 2012
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Section 195 does not apply if section 192 applies.
Read Section 195 carefully, you will get your answer.
Thanks.
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