Tds on sitting fee
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 July 2013
Rs 20000/- Sitting Fee paid to part time Director.
is it liable to TDS u/s 194J?
is it liable to TDS u/s 194J?
04 July 2013
Yes ,it is liable to tds 194J claue 1(ba),
Threshold limit not available for persons covered in clause 1(ba)
refer first proviso (B) FOR 194J for more---
Thanks & regards
Ganesh babu k
Threshold limit not available for persons covered in clause 1(ba)
refer first proviso (B) FOR 194J for more---
Thanks & regards
Ganesh babu k
04 July 2013
It will be treated as professional fee and he will be liable to pay TDS @10% after Rs. 30000/-
04 July 2013
As per the new provisions, TDS has to be deducted on Directors Sitting Fees. The cieling limit of Rs 30000/- does not applies on it and accordingly TDS @ 10% has to be deducted on Rs 20000/- u/s 194J(1)(ba).
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