TDS FOR SITTING FEES

According to me yes it will attract TDS u/s 194J (TDS for Professional Services)

Y,  it comes u/s 194J

Aab Baithne per bhi tax lagega kya?

No Tax is required to deduct on sitting fees. It is not for professional service.

No  TDS for sitting fees , as it is not comes under any section and can you suggest me will it be taxable income? as i do agrre with the Bimal Thackrey.

 

if he is taking sitting fee as the remuneration mode then tds will liable u/s 192 or else 194j

Sitting fees is taxable under the head Income from other Sources

 Yes, Tds will be applicable on sitting fee.

If Sitting fee is received as a salary then it is taxable under head salary and tds will be deduct u/s 192.

if sitting fee received other than salary then it is taxable under head PGBP as Profession or other income (if Sitting fee not received as a profession or business) and tds will be deduct u/s 194C.

Hi,

TDS u/s.194J  is applicable on Director's sitting fees.

Nish*t shah

Originally posted by : manish
	Yes, Tds will be applicable on sitting fee. If Sitting fee is received as a salary then it is taxable under head salary and tds will be deduct u/s 192. if sitting fee received other than salary then it is taxable under head PGBP as Profession or other income (if Sitting fee not received as a profession or business) and tds will be deduct u/s 194C.

Just one change is there instead of 194C it will be 194J.
 

need to deduct TDs on Sitting Fees

No TDS is attracted on Director's Sitting Fees

A director is also a manager under the provisions of the Companies Act, 1956. He is, therefore, technical personnel. Any payment made to such director (be it sitting fee or any other sum) shall be required to be taken into consideration for the purposes of deduction of tax at source under section 194J.

Sitting Fees are paid to directors over & above salary. For Directors income sitting fees is considered as Income from Other Sources as per IT Laws. So no TDS U/s 192 willbe deducted. In fact tds will be deducted u/s 194 J because what BATUL said above "A director is also a manager under the provisions of the Companies Act, 1956. He is, therefore, technical personnel. Any payment made to such director (be it sitting fee or any other sum) shall be required to be taken into consideration for the purposes of deduction of tax at source under section 194J."

TDS has to be deducted in case of sitting fees paid to directors. Executive directors :u/s 192 (as it's treated as managerial remuneration) Non executive Directors : u/s 194J ( technical services )