40(a)(i)
This query is : Resolved
21 June 2012
is directors remuneration considered as salary for purpose of 40(a)(i)if that remuneration is paid abroad and TDS u\s 195
CA CS Amit S. Kedia
(Expert)
21 June 2012
Dear Mr. Sriram,
If the director are non resident then Section 40(a)(i)shall be applicable and TDS will be deducted u/s 192 and not u/s 195.
If the director are non resident then Section 40(a)(i)shall be applicable and TDS will be deducted u/s 192 and not u/s 195.
Message likes :
1 times
21 June 2012
Tks for response and wat if tds u/s 195 is made but tax deposited after due date of 200(1)
CA CS Amit S. Kedia
(Expert)
21 June 2012
Dear Mr. Sriram,
If the directors are non resident and TDS is not deducted u/s 192 then salary paid will be disallowed u/s 40(a)(iii)
If the head is wrongly mentioned then it can be corrected within 7 days by informing the respective banks, else AO tds will rectify the mistake.
The TDS is deposited after the due date then interest will paid @1.5% per month or part of the month from the date of deduction
If the directors are non resident and TDS is not deducted u/s 192 then salary paid will be disallowed u/s 40(a)(iii)
If the head is wrongly mentioned then it can be corrected within 7 days by informing the respective banks, else AO tds will rectify the mistake.
The TDS is deposited after the due date then interest will paid @1.5% per month or part of the month from the date of deduction
Message likes :
1 times
21 June 2012
Amit can u get were its said tat 192 is applicable for remuneration paid to non residents
CA CS Amit S. Kedia
(Expert)
21 June 2012
Section 195 does not apply if section 192 applies.
Read Section 195 carefully, you will get your answer.
Thanks.
Read Section 195 carefully, you will get your answer.
Thanks.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- GSTR-9C filing
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- Capital Gains Tax on Inherited Mutual Fund
- IMS (import of goods) ITC related
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
