Tds u/s 194j @10% to be deducted on remuneration to director
This query is : Resolved
kailas patil
(Querist)
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.
CA Prashant Gupta
(Expert)
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
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST input credit on commercial property
- Nursery business
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- IMS (import of goods) ITC related
- Royalty payments to the Mining Department for procurement of murum - GST input
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
