Tds on remuneration paid to director

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2012 Dear Sir,

as per new rule, please confirm, whether TDS on Remuneration related to APRIL-2012 is to be deposited u/s 192B Or 192J(1)(ba)

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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07 May 2012 It depends upon how you treat the director. If the director is an employee-director, i.e on roll of the company, then Sec. 192B. If that director is a professional director, then Sec. 194J.

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Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2012 Dear Sir,

Thanks for your reply, but my question is, whether new rule applicable for April month's remuneration or not?

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Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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07 May 2012 No. There is no rule yet.

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Tushar Desai

Tushar Desai (Expert)
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07 May 2012 I agree with Mr Amol with the treatment to be given to your Director's pay.

And it seems that you mean Direct Tax Rules updated last month (by NEW RULES), right?

Yes, you have to apply NEW RULES, that is rules applicable for F.Y. 2012-13 (A.Y. 2013-14).

That's 2,00,000/- exempted income. 1 Lac under 80C.. No exemption for Infra Bond... 10000 interest is tax-free.. etc etc.

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