Do the company needs to deduct TDS monthly u/s 192 when a company decides to pay specific % as share in profit to director.
CA Abhilasha Bhagat (ACA) (466 Points)
21 June 2014Do the company needs to deduct TDS monthly u/s 192 when a company decides to pay specific % as share in profit to director.
Ankit
(CA, CS)
(3064 Points)
Replied 21 June 2014
Dear Abhilasha,
The deduction u/s 192 is to be made only incase of a Whole Time Director. If the monthly payment is to a non executive director, the same may be treated as commission and TDS shouyld be made under 194J - Professional Fees.
If you have any further query...please ask
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 21 June 2014
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