194j(1)(ba).
This query is : Resolved
Mrugeshh Khatri
(Querist)
01 August 2012
As per Budget 2012 TDS on remuneration to directors is to be deducted @ 10% u/s 194J(1)(ba).
w.e.f. 01/07/12 whether we have to deduct TDS @ 10% directly on total remu.
i.e. if remu. is Rs. 1 lacs p.m.. deduct TDS Rs. 10 k.
but some CA suggest that..As per Section 194J(ba), TDS @ 10% is to be deducted on amounts other than those on which tax is deductible u/s 192 (Salary).
so whats true???
w.e.f. 01/07/12 whether we have to deduct TDS @ 10% directly on total remu.
i.e. if remu. is Rs. 1 lacs p.m.. deduct TDS Rs. 10 k.
but some CA suggest that..As per Section 194J(ba), TDS @ 10% is to be deducted on amounts other than those on which tax is deductible u/s 192 (Salary).
so whats true???
Amol S Joglekar
(Expert)
01 August 2012
You need to bifurcate SALARY to be given to director employee AND other than SALARY (Remuneration). Salary will go by 192 and rest will go by 194J
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