Tds on director remunration

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Anil (Querist)
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13 December 2014 Sir, we are paying Rs. 25000 p.m. to our director in F.Y. 2014-15, but till time we could not deduct TDS on Director remunration.

Please tell that how much amount of TDS will be deducted from Rs. 25000 p.m. Also tell me that can we deduct & deposit total amount of TDS for amount given to director, till date.

Thanks.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 December 2014 If he is full time director deduct TDS u/s 192 otherwise TDS at 10% u/s 194J applicable. Deduct till date and remit along with interest.

Amol S Joglekar

Amol S Joglekar (Expert)
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13 December 2014 If it is REMUNERATION, you can deduct the TDS as per SALARY limits, taking into account the deductions etc. e.g. prof tax, 80C deductions etc.

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