Tds on director remuneration sec 194 j(1) (ba)
This query is : Resolved
29 June 2013
194J(1)(ba) Any remuneration or commission paid to director of the company (Effective from 1 July 2012)
Tds rate will be @10%
our company paid remuneration to directors for Rs.381000 pa for the F.Y 2012-2013 so please advise what is to be done in this case.
Manoj Aggarwal
9310190208
Tds rate will be @10%
our company paid remuneration to directors for Rs.381000 pa for the F.Y 2012-2013 so please advise what is to be done in this case.
Manoj Aggarwal
9310190208
29 June 2013
If the Directors are Whole Time Directors and drawing Monthly Remuneration then TDS u/s 192B is applicable.
But If Directors are being paid Sitting Fees then TDS u/s 194J would be applicable
But If Directors are being paid Sitting Fees then TDS u/s 194J would be applicable
29 June 2013
yes mam, Directors are whole time directors.
and thanks for clean & clear.
Manoj Aggarwal
and thanks for clean & clear.
Manoj Aggarwal
29 June 2013
So 192B is applicable in your case since they are drawing monthly remuneration
29 June 2013
No mam, they are received under tax exempt slab.
1.Director - 15750 pm
2.Director - 16000 pm
1.Director - 15750 pm
2.Director - 16000 pm
29 June 2013
Then TDS is not applicable
29 June 2013
I have a problem about depreciation as per company act 1956 as below-
Original cost value - 9,70,000
accumulated Total Dep. - 8,90,000
Opening wdv in Books - 80,000 as on 1/04/2012
Depreciation as per SLM - 109707 (970000*11.31%) for the year 2012-2013.
in this above case Depreciation Block is higher than gross block of Fixed asset.
so please tell me what will be done in this condition.
As per my view, i have write off opening WDV with Depreciation of Rs. 80000. and block is nil. am i right or not please advise & suggest.
Manoj Aggarwal
Original cost value - 9,70,000
accumulated Total Dep. - 8,90,000
Opening wdv in Books - 80,000 as on 1/04/2012
Depreciation as per SLM - 109707 (970000*11.31%) for the year 2012-2013.
in this above case Depreciation Block is higher than gross block of Fixed asset.
so please tell me what will be done in this condition.
As per my view, i have write off opening WDV with Depreciation of Rs. 80000. and block is nil. am i right or not please advise & suggest.
Manoj Aggarwal
30 June 2013
PLEASE NOTE THAT YOU HAVE TO PAY SERVICE TAX ON THE DIRECTORS REMUNERATION.
30 June 2013
NO, SORRY SINCE YOUR DIRECTORS ARE WHOLE TIME DIRECTORS YOU SHALL NOT HAVE TO PAY SERVICE TAX.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
