TDS on Director remuneration
This query is : Resolved
21 May 2010
Whether director remuneration taxable under head of salary or other income
Whether TDS deducted under section 192 or 194C
Whether TDS deducted under section 192 or 194C
CMA.Palani Arumugam
(Expert)
21 May 2010
Directors remuneration is taxable under the head salary and TDS is to be deducted u/s.192
taxindiaconnect
(Expert)
21 May 2010
agreed with arugam
21 May 2010
AGREE. U/S 192B
22 May 2010
Sec. 15 of Income tax Act, Income taxable under the head salaries only if there exists employer & employee relationship between the payer & payee.
Sec. 2(13) of Companies Act – meaning of Director – Director as such are not employer or servant of the company .
Sec. 56(2) of Income tax Act, specific Income chargeable under the head “Income from other sources “ include Director Fee .
As per above point Why Director remuneration taxable under head “Income From salaries”. Why not Income chargeable under the head “Income from other sources”
Sec. 2(13) of Companies Act – meaning of Director – Director as such are not employer or servant of the company .
Sec. 56(2) of Income tax Act, specific Income chargeable under the head “Income from other sources “ include Director Fee .
As per above point Why Director remuneration taxable under head “Income From salaries”. Why not Income chargeable under the head “Income from other sources”
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