Tax Deduction at Source
This query is : Resolved
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LAVINA CLETA D'SILVA
(Querist)
04 November 2020
A retired DGM of a bank has been appointed to provide advisory services to a cooperative bank on a monthly honararium. Just wanted to confirm whether TDS under 194J is deductible as professional fees or FTS ( As per Explanation 2 to Section 9(1)(vii) of Income Tax Act)
CA R SEETHARAMAN
(Expert)
04 November 2020
Deduct TDS u/s 192 treating it as salary.
LAVINA CLETA D'SILVA
(Querist)
04 November 2020
That means that even if he is on contract basis and is paid monthly honorarium he will be considered an employee.
CA R SEETHARAMAN
(Expert)
04 November 2020
Yes contract employee payment directly made is an employee.
LAVINA CLETA D'SILVA
(Querist)
04 November 2020
OKAY SIR THANK YOU
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