DEDUCTION OF TDS ON DIRECTORS REMUNERATION
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2010
CAN ANY BODY PLS TELL ME SHOULD I DEDUCT TDS ON DIRECTORS REMUNERATION IF IT IS CONSIDERED AS BUSINESS CONSULTANCY EXPENSE AND NOT REMUNERATION AND THE DIRECTORS ALSO CLAIM THAT AS BUSINESS INCOME IN THEIR PERSONAL RETURN OF INCOME.
CA Kalpesh Gokani
(Expert)
06 July 2010
yes, TDS should be deducted whether it is treated as remunaration or business consultancy.
CMA Ramesh Krishnan
(Expert)
06 July 2010
yes.need to be deducted under sec.192
Shudhanshu Agrawal
(Expert)
06 July 2010
TDS need to be deducted u/s 194J. Moreover, in the ITR, director will show this income as consultancy or technical income but cannt show it as a business income.
06 July 2010
Are there any other means available to pay remuneration?
Yes, the Directors can be paid remuneration for their professional services which need not be included in any ceiling limits of Director Remuneration. For this purpose in the Central Government’s opinion, the director should possess the requisite qualifications for practicing the profession.
as per above, if Director has professional qualification and practising it and services rendered by him in a professional capacity, then amount paid as consulancy service will be covered u/s 194J.
Yes, the Directors can be paid remuneration for their professional services which need not be included in any ceiling limits of Director Remuneration. For this purpose in the Central Government’s opinion, the director should possess the requisite qualifications for practicing the profession.
as per above, if Director has professional qualification and practising it and services rendered by him in a professional capacity, then amount paid as consulancy service will be covered u/s 194J.
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