Poonawalla fincorps
Poonawalla fincorps

Sitting fees to non-executive directors

This query is : Resolved 
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(Querist)
07 May 2015 I have come to know that, per meeting we can pay minimum Rs 1,00,000/= on account of sitting fees to a Non-Executive Director. It means that a sum of Rs 4,00,000/= yearly can be paid to a non-executive director of a private limited company.

10% TDS shall be deducted u/s 194-J.

Sir Am I right ?

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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
07 May 2015 Yes. Non exective director sitting fees liable to TDS under 194J

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