Director remuneraton

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LOHITH (Querist)
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11 April 2012 We are paying Salary and Quarterly Incentive to our Managing Director U/s 192B. As per the new rule any payment made to Director TDS should be deduct under Sec.194J @ 10%. Please confirm above payment will attract TDS U/s 194J or shoulde we consider under 192B.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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11 April 2012 Dear Mr. Lohith,

71.In section 194J of the Income-tax Act, in sub-section (1), after clause (b), the following clause shall be inserted with effect from the 1st day of July, 2012, namely:—
“(ba)any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company.

hence, It will continue to be deducted u/s 192 only

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