Tds on remuneration to director
This query is : Resolved
Kedarnath Nayak
(Querist)
06 July 2012
TDS @10% implemented wef 01.07.12 on remuneration to director.What is the threshold limit & under which section it applies. Please help.
06 July 2012
Applicable Section 194J(1)(ba).
Rate of TDS 10%
Applicable from 01.07.2012
No threshold limit mentioned.
Rate of TDS 10%
Applicable from 01.07.2012
No threshold limit mentioned.
CA CS Amit S. Kedia
(Expert)
06 July 2012
However it should not be in the nature of salary as per the terms of the employment.
If it is so, then it will still be deducted u/s 192
If it is so, then it will still be deducted u/s 192
CA Prashant Gupta
(Expert)
06 July 2012
194 J
but it is for fee other than salary. if salary is included then 192 will be applicable on it. for rest fee 194 J.
10% TDS will be deducted on full fee. No exemption limit
but it is for fee other than salary. if salary is included then 192 will be applicable on it. for rest fee 194 J.
10% TDS will be deducted on full fee. No exemption limit
Kedarnath Nayak
(Querist)
06 July 2012
We are already deducting TDS from their remuneration but on our self assessment. Is it mandatory to deduct @10% on the gross amount payable to Directors?
CA Prashant Gupta
(Expert)
06 July 2012
Mr. Kedarnath, Co can pay director two types. One part comes under head salary. if you are paying salary to them then deduct TDS u/s 192
But if you are paying other fees which are not included in salary then you must deduct 10% on it u/s 194 J
So if you are not paying him salary then you can deduct TDS @10% on full amount
But if you are paying other fees which are not included in salary then you must deduct 10% on it u/s 194 J
So if you are not paying him salary then you can deduct TDS @10% on full amount
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