tds - 194 (J)
This query is : Open
13 December 2008
I read that sitting fees paid to directors would come under purview of 194(J).The reason it seems is that he can be defined as manager under companies act..1956,which seems to be an absurd explanation!! How can tat definition be applied to income tax act ???Should come under194(J) ??
13 December 2008
sec 194J can't be applied here.
no tds u/s 194 J is required to be deducted on sitting fees.
no tds u/s 194 J is required to be deducted on sitting fees.
13 December 2008
But that is hw it has been interpreted in all books !!!!!!
13 December 2008
A director is also a manager under the provisions of the Companies Act, 1956. He is, therefore, technical personnel. Any payment made to such director (be it sitting fee or any other sum) shall be required to be taken into consideration for the purposes of deduction of tax at source under section 194J.
Source: http://www.incometaxquery.com/tds/tdsonprofessionalfees.html
Source: http://www.incometaxquery.com/tds/tdsonprofessionalfees.html
14 December 2008
hw can companies act be applied to income tax act???
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