Salary to the Director
This query is : Resolved
Ravi Kumar Rajgaria
(Querist)
12 March 2009
Can a Company pay salary Rs. 1 lac per month and a professional fee Rs. 1 lac per month sepeartely after deducting the required TDS u/s 192 and 194J to a single director?
chetan soni
(Expert)
12 March 2009
No, in that case professional fees will be considered as salary paid to director & needs to be taxed u/s 192.
If you paid as professional fees then TDS is short deducted i.e diff. between rate of 194J & 192. Prorated amount will be disallowed at the time of assessment.
If you paid as professional fees then TDS is short deducted i.e diff. between rate of 194J & 192. Prorated amount will be disallowed at the time of assessment.
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