Tds on director remuneration

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2012 Dear Sir,
We pays remuneration to director on the 7th of next month. For Ex. June month remuneration we will pay on 6th July.Now as per amendment made by finance Act 2012, any amount paid to director after July 01 will be taxed U/s 194J.
- Whether this amt of remu. paid by us will be taxed U/s 192B or 194J ?
-As per our current practice we deposit TDS on this amount by Aug. 07 (if there were no amendment-as TDS on salary to be deposited on payment basis).

Pls provide me your expert openion in the matter
Thx.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
Follow

26 June 2012 Dear user,

This is not the case,section 194(1)(ba) clearly says that 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 is deductible to tax.
Accordingly, TDS in your case will still be deductible u/s 192 only.

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RAJENDRA PARAKHI

shanmukha sai

Adv Ashish Vishwakarma

Vijay Singh

P.S.Satya narayana

Subscribe Now

Tds on director remuneration

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Manager- Finance and Compliance

Senior Executive

GST CONSULTANT

Accountant

GST CONSULTANCY