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By :
Ramasubbu K
GM - Finance & Company Secreta
[ Scorecard : 328]
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ON : 8/31/2007 10:41:26 AM
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Wherther Sitting fees paid to Directors is liable for TDS under Section 194J
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By :
Guest (Guest)
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ON : 8/31/2007 2:10:37 PM
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No its not a professional fees as per section 194J
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By :
MAHENDRA IYER
SERVICE
[ Scorecard : 302]
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ON : 8/31/2007 3:30:23 PM
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TDS provision does not apply for sitting fees.
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By :
tushar jain
Service
[ Scorecard : 102]
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ON : 9/6/2007 6:50:26 PM
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194j provides for TDS on professional services. Director fee shall be covered under professional service fee, since it is a specialised job and is normally done by professionals.
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By :
shritarun (Guest)
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ON : 1/31/2008 4:36:30 PM
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0000000010
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By :
Jayesh Jain (Guest)
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ON : 3/19/2008 3:23:48 PM
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Sitting fees paid to directors are not subject to TDS. directors are not employees of the Company adn further it is not always true to say that all the directors are professional and therefore 194J is applicable.
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By :
Kalpana
Accounts
[ Scorecard : 63]
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ON : 3/19/2008 6:37:37 PM
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Hi Friends
Can anyone explain me regarding sitting fees.
thanks in advance
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By :
DG (Guest)
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ON : 3/31/2008 5:56:48 PM
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Directors sitting fees are neither covered under 194J or 193C. As per my knowledge it is aRemuneration. All Companies are clubbing Sitting fees with Directors remunaration.
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By :
DG (Guest)
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ON : 3/31/2008 6:00:04 PM
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it is not clarified in Companies Act and also in Income Tax Act.
Directors sitting fees are neither covered under 194J or 194C.
It is Remuneration and clubbing Sitting fees with the details of Directors remunaration in Notes to Accounts.
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