As per director appointment letter, commission has to pay on every year end based profit of the company along with March director remuneration.
Please let me know, TDS applicability of said commission. Whether TDS has to deduct under TDS on Commission or under TDS on salary income
Thanks in Advance.
Dear Baskar Sir,
Sec 17 defines "SALARY" - one of the clauses reads as under -
any fees, commissions, perquisites or profits in lieu of or in addition to any salary or wages;
Commission to a Director will be taxable underhead salary only and TDS on the same shall be deducted u/s 192.
I think Mr. Amir is absolutely correct.
Keshab Chaudhury
Advocate & Tax Consultant
9830050845
Mr. Amir is correct.
CAclubindia
