Tds u/s 194j @10% to be deducted on remuneration to director
This query is : Resolved
05 July 2012
Sir, I am accountant of Pvt ltd co.w.e.f 01/07/2012 TDS to be deducted @10%on Remuneration to Director My question is, whether it is applicable to pvt. ltd. co & what is the limit of remuneration?
05 July 2012
Sec 194J(1)(ba)
Applicable to Pvt. Ltd company also. Limit Rs. 30000- p.a..
Applicable to Pvt. Ltd company also. Limit Rs. 30000- p.a..
05 July 2012
1. The remuneration is to be bifurcated into salary and other remuneration.
2. TDS on salary shall be deducted u/s 192. Exemption limit is slab rate.
3. TDS on OTHER REMUNERATION shall be deducted u/s 194J.
4. Limit of Rs. 30,000 is NOT APPLICABLE to directors remuneration.
Accordingly, TDS is required to be deducted even if the annual remuneration is less than Rs. 30,000.
2. TDS on salary shall be deducted u/s 192. Exemption limit is slab rate.
3. TDS on OTHER REMUNERATION shall be deducted u/s 194J.
4. Limit of Rs. 30,000 is NOT APPLICABLE to directors remuneration.
Accordingly, TDS is required to be deducted even if the annual remuneration is less than Rs. 30,000.
05 July 2012
on Directors remuneration, only to consider what part is salary and what is other fee. For salary part sec will be 192 and for other fees it will be 194 J. Limit of 30,000 is not applicable on director's case. So you must deduct TDS on full amount from first payment
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- Relief u/s Section 89
- REGARDING SECTION 44AE
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
