Directors remuneration

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 July 2012 We are paying director remuneration of june 2012 in July,pls let me know we have to deduct TDS u/s 192B or 194J.

Thx

03 July 2012 You will first have to bifurcate remuneration into salary and other remuneration.

TDS on salary amount will be deducted u/s 192 and on other remuneration u/s 194J.

03 July 2012 All type of remueration paid as per terms of contact of employment with director will become part of salary.

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 July 2012 Thx. Siddharth & Amit,
However as per Fiance Act 2012 Any amount paid to director w.e.f. 01/07/2012 will be taxed U/s 194J, so what will be the implication in my case.

Thanks

03 July 2012 Please read the amendment carefully. It says any amount paid as remuneration OTHER THAN SALARY.

So, as I said, you will first have to bifurcate the remuneration into salary and other remuneration.

TDS on salary - 192
TDS on OTHER remuneration - 194J

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 July 2012 Thanks Mr. Siddhartha,
I gone through the amendment & Agreed with your view.


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