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Tax Deduction at Source

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LAVINA CLETA D'SILVA

LAVINA CLETA D'SILVA (Querist)
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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

CA R SEETHARAMAN (Expert)
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04 November 2020 Deduct TDS u/s 192 treating it as salary.

LAVINA CLETA D'SILVA

LAVINA CLETA D'SILVA (Querist)
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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

CA R SEETHARAMAN (Expert)
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04 November 2020 Yes contract employee payment directly made is an employee.

LAVINA CLETA D'SILVA

LAVINA CLETA D'SILVA (Querist)
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04 November 2020 OKAY SIR THANK YOU

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