Tds on directors remuneration

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 June 2012 Is necessary to deduct TDS on Directors remuneration ? and Rate ?

14 June 2012 First of all you have to classify directors remuneration as salary and other remuneration.

Remuneration in the form of salary shall be covered u/s 192 and other remuneration shall be covered u/s 194J.

TDS on salary is applicable if the same exceeds Rs. 1,80,000

TDS on other remuneration (194J) is applicable if the same exceeds Rs. 30,000.
TDS u/s 194J shall be deducted @ 10%.

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Querist : Anonymous

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Querist : Anonymous (Querist)
14 June 2012 but new section inserted(192j)1(ba) that irrespective of
any amount TDS must be deducted @ 10% is this provision applicable ? for sitting fees and other fees ?

14 June 2012 Yeah. Sorry made a mistake. TDS u/s 194J for payment towards directors remuneration shall be deducted @ 10% irrespective of the amount.

14 June 2012 Hi


Following link will help you:

https://www.caclubindia.com/articles/tds-on-remuneration-paid-to-directors-13422.asp


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