Tds deducted u/s 194j(1)(ba)

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Mohammed Asif (Querist)
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08 October 2012 Dear Sir,

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.

BALASUBRAMANYA B N

BALASUBRAMANYA B N (Expert)
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08 October 2012 It will come under 26Q.
24Q is only for Salary and Interest.
26Q will cover rest of the sections...

Hemant Kumar

Hemant Kumar (Expert)
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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%.

Hence, Above said deduction is covered under 26Q.

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Mohammed Asif

Mohammed Asif (Querist)
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08 October 2012 Thanks Balu and Hemant

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