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

Save Share

This query is : Resolved

Mohammed Asif (Querist)
Follow

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)
Follow

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)
Follow

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.

Message likes : 1 times

Mohammed Asif

Mohammed Asif (Querist)
Follow

08 October 2012 Thanks Balu and Hemant

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now