What is the method of deducting income tax on remuneration to directors of a company?
Is it u/s 194J-Fees for professional or technical services
or
u/s 192B-Salary???
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Directors' remuneration
Replies (6)
| Originally posted by : SIVARAMAKRISHNAN P.G | ||
 |
What is the method of deducting income tax on remuneration to directors of a company? Is it u/s 194J-Fees for professional or technical services or u/s 192B-Salary??? |
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> It depends on the director’s relationship with the company.
.
> If any remuneration/fee/commission by whatever name called paid to a director, which is not in the nature of salary, then tax is required to be deducted u/s 194J @ 10% w.e.f 01.07.2012. In this case there is no threshold limit of Rs. 30,000.
.
> When the payment is made on account of salary, then tax shall be deducted u/s 192, if the director is an employee of the company.
Perfectly explained
Depends on the relationship
deepak gupta -- good explanation.
thanks
it depends on relationship.............
but generally TDS is deducted u/s 192
usually a whole time dirctor ll be done under 92, as it ll be more of employee employer relatnship...
if dirctr is apptnd as a just a part time consultnt, than 94j
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