I want to Know that at the time of Filing of TDS returns if TDS is Deducted u/s 194J(1)(ba), it should be covered in 26Q or 24Q. Kindly explain in detailed.
08 October 2012
Budget 2012 inserted a New clause 1(ba) in Section 194J which mandates TDS @10 % on any remuneration paid to Directors of a company. This clause will be effective from 1st July,2012.
The newly inserted clause (1)(ba) of 194J reads as under:
Any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company shall liable to be deducted @10%.
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