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TSD section

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trideep

218 Points Posted on 03 June 2020

Sir. our Govt organization {project} pay salary to Managing Directors and I deduct TDS u/s 94B but now some of the directors came and told me that there CA file return as professional fee and so TDS is to be deducted u/s 94J. now please advise me for the above also advice me how can I revise the 92B to 94J if I have charged TDS before wrongly.

Replies (2)

Quick Summary

This discussion addresses the correct TDS section for payments made to Managing Directors. While payments to full-time directors are generally treated as employee salaries and taxed under Section 192, fees paid to non-working directors or for professional services may fall under Section 194J. The advice clarifies the distinction and provides guidance on rectifying any incorrect TDS deductions made previously under Section 94B.

CA ABHAY GUPTA

Practice

3235 Points Posted on 03 June 2020

Payment made to full time director deemed as employee of company thus tax need to be deducted y/s 92B.. payment made to non working director or Any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company shall liable to be deducted @ 10%..

for more clarification go to following link..

https://www.google.com/amp/s/taxadda.com/tds-on-remuneration-paid-to-directors-under-section-194j1ba/