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Salary to director


Sushil Kumar Mohanty (Accountant)     15 April 2012

Sushil Kumar Mohanty
Accountant 
 1 likes  137 points

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IF ONE DIRECTOR RECEIVE SALARY FROM 3 PVT LTD COMAPNIES 1. Rs. 49000/- , 2. 210000/- & 3. 210000/- & WHAT IS THE TDS PROVICION OF THE ABOVE SALARY  U/S 192B

avater

Devendra (Chartered Accountant)     15 April 2012

Devendra
Chartered Accountant 
 427 likes  4741 points

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TDS from the 2nd and 3rd Company should be deducted of Rs. 6180 [Company 2 Rs. 3090 + Company 3 Rs. 3090]. There is no need to deduct TDS on salary received from Company 1. 

 

TDS by Company 2  Rs. 257.5 per month should be deducted ie Rs. 3090 per annum

TDS by Company 3 257.5 per month should be deducted ie Rs. 3090 per annum.

 

Note : 

If the above Director's remuneration is for A.Y 2012 - 13, then TDS is to be deducted u/s 192B.

But if it pertains to A.Y 2013 - 14, then TDS is to be deducted u/s 194J @ 10%.

 

Regards,

Devendra Kulkarni

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Pankaj Arora (Learner)     15 April 2012

Pankaj Arora
Learner 
 225 likes  3124 points

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dear devendra pls read carefully in amenmendts there is mentioned that except salary whatever gives to director than u have to deduct TDS on that portion U/s 194J.

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CA PRAVEEN SINGH (MANAGER ACCOUNTS)     15 April 2012

CA PRAVEEN SINGH
MANAGER ACCOUNTS 
 217 likes  2277 points

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AS PER NEW AMENDMENT PAYMENT MADE TO DIRECTOR IN FORM OF SITTING FEES & COMMOSSION IS TO BE DEDUCTED U/S 194J...ONLY.

SALARY PAID TO DIRECTOR IS TO BE DEDUCTED U/S 194B

1 Like
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Devendra (Chartered Accountant)     15 April 2012

Devendra
Chartered Accountant 
 427 likes  4741 points

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Pankaj Arora & CA Praveen Singh : @ Thank you for correcting me 


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