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Tds on director's salary (Income Tax)

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This query is : Resolved



( Author )
12 April 2012

From which new amendment of Tds Deduction on Director's salary applicable??and please provide details about amount and rate?


CA Kishore Tallam

( Expert )
12 April 2012

TDS on salary is introduced very long back.


CA PRAVEEN SINGH

( Expert )
12 April 2012

Friends, Earlier Director Remuneration paid by company is being treated as Salary under section 192, but now after budget 2012, Director Remuneration will be covered under section 194J and TDS will be deducted @ 10% under Fee for professional or technical services under section 194J.

This amendment will be applicable w.e.f. 01-07-2012


Ajay Mishra

( Expert )
12 April 2012

Hi


Go to the following link for more details:

http://www.caclubindia.com/articles/tds-on-remuneration-paid-to-directors-13422.asp


CA Kishore Tallam

( Expert )
12 April 2012

@Praveen: The budget has treated only remuneration other than salary u/s 194J. However, Remuneration paid to MD or WTD will be salary only since they are employees of the Company in capacity of MD and WTD.
The amendment was mainly to bring sitting fee paid to directors under TDS bracket.


CA PRAVEEN SINGH

( Expert )
13 April 2012

YES,RIGHT SAID ABOVE...TDS IS TO BE DEDUCTED
U/S 194J...FOR PAYMENT MADE IN FORM OF SITTING FEES & COMMISSION TO DIRECTOR OF THE COMPANY.


CA PRAVEEN SINGH

( Expert )
13 April 2012

YES,RIGHT SAID ABOVE...TDS IS TO BE DEDUCTED
U/S 194J...FOR PAYMENT MADE IN FORM OF SITTING FEES & COMMISSION TO DIRECTOR OF THE COMPANY.


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