07 October 2013
Finance minister in budget 2012 deepened the worry lines of the directors of innumerable companies who were enjoying the remuneration from company without deduction of tax at source by inserting a new clause 1(ba) in Section 194J which expand TDS net to on any remuneration paid to Directors of a company. This clause will be effective from 1st July, 2012. In accordance with newly inserted clause 1(ba) in Section 194J, TDS @ 10% is to be deducted from any remuneration paid to Directors of accompany with effect from 1st July, 2012.
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