Director's remuneration

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Querist : Anonymous

Querist : Anonymous (Querist)

01 May 2012 our co. allot monthly salary to director. should I deduct TDS u/s 192 and profession tax Rs. 200

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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01 May 2012 Being a Company, every director and the company itself is required get enrolled under Profession Tax and pay Professions Tax Rs. 2500 every year. So, there is no need to deduct PT from salary as long as the director himself is paying. Further, regarding the TDS, if the Director is an employee of the Company, i.e. he is on roll, then TDS u/s 192 i.e TDS on salary. However, if the director is paid remuneration, the TDS can be done u/s 194J, i.e. for professional and technical services.