Hi,
Please guide me for the TDS on Directors' Sitting Fees. whether TDS is applicable or not ? if yes please mention under which section?
With regards & thanks
Nitin Patel
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Directors' Sitting Fees
Replies (3)
Directors' sitting fees taxable under the Income form Other Sources Sec56(1).
TDS to be deducted @ higher slab rate.
| Originally posted by :patel nitin | ||
| " |
Hi Patel, TDS need to be deducted Under Section 194 J - Professional charges Hi, |
" |
Hi Patel,
Any amount paid to Directors is treated as Director's Remuneration as per Companies Act 1956.
Sitting Fees is to be shown separately in P&L a/c.
TDS should not be deducted on it
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