tds on director fees

This query is : Resolved

Abhishek Shah (Querist)
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24 April 2009 My company has 3 directors and pays to them a salary of Rs 10000p.m (Rs 1,20,000 p.a)

The directors have other business also of their own.

Should the company deduct the tds on directors salary which it pays to them monthly (even though the total payment by the company to directors is below taxable limit), if yes at what rate.

Should the company ask from the directors their other source of income and their investments and then deduct tds prorata or just cut it @ 10.33%

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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24 April 2009 There exsist the employer employee relation ship with the director and employee and hence TDS u/s 192 shall be applicable.

Abhishek Shah

Abhishek Shah (Querist)
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24 April 2009

Rajesh Kumar

Rajesh Kumar (Expert)
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25 April 2009 TDS should be deducted as salary income.

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