TDS on Directors Remuneration.

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CMA. CS. Sanjay Gupta (Querist)
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03 March 2010 Dear Experts,

My question is-

A person is director in 4 companies and is receiving Rs.25,000/- p.m. from each company as directors remuneration. Whether all the companies are required to deduct TDS? How can the companies calculate the amount of TDS to be deducted?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 March 2010 My view .Calculate total income of the director and deduct proportionately by the each company remunaration

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Querist)
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04 March 2010 Dear Ramesh,

Can you tell me which company will provide TDS certificate to the director and whether they will show the salary of other employer and deduction u/s 80C, 80D & 80G.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 March 2010 Dear Sanjay
An Director also can be treated as employee and his remuneration also coming under the Salary income only while calculating his income also can be considered other incomes and eligible deductions and show as form 16 this my update. In case any updation from your side.you can share

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Querist)
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04 March 2010 Dear Ramesh,

My question is that the director is receiving salary from 4 companies. So from which company he will receive TDS certificate from? Please clarify rules regarding declaration in form 12B.

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