Re:- Relating to Director Salary & its TDS Provision

Save Share

This query is : Resolved

Abhishek Roy (Querist)
Follow

20 January 2021 Dear All,

Please confirm a query.
An Individual is a Director of 2 Companies Simultaneously
Can he withdraw Salary from both the companies at the same time, if so what are tds provision that can come into effect.
As we know:-
1) Those Director who are coming under the purview of employment, his salary/ remuneration will be liable to TDS U/s 192
2) Those Director who are not coming under such provision, his salary/ remuneration will be liable to TDS U/s 194J

Please suggest accordingly.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

01 December 2021 Section 165(1) of the Act states that a person can hold the office of director simultaneously in 20 companies. The number of 20 companies includes the office of alternate directorship.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

01 December 2021 No. A person can act as a whole time director of only one company and not more than one company. Hence he can draw remuneration from one company only.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!