12 April 2012
Friends, Earlier Director Remuneration paid by company is being treated as Salary under section 192, but now after budget 2012, Director Remuneration will be covered under section 194J and TDS will be deducted @ 10% under Fee for professional or technical services under section 194J.
This amendment will be applicable w.e.f. 01-07-2012
12 April 2012
@Praveen: The budget has treated only remuneration other than salary u/s 194J. However, Remuneration paid to MD or WTD will be salary only since they are employees of the Company in capacity of MD and WTD. The amendment was mainly to bring sitting fee paid to directors under TDS bracket.
13 April 2012
YES,RIGHT SAID ABOVE...TDS IS TO BE DEDUCTED U/S 194J...FOR PAYMENT MADE IN FORM OF SITTING FEES & COMMISSION TO DIRECTOR OF THE COMPANY.
13 April 2012
YES,RIGHT SAID ABOVE...TDS IS TO BE DEDUCTED U/S 194J...FOR PAYMENT MADE IN FORM OF SITTING FEES & COMMISSION TO DIRECTOR OF THE COMPANY.
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