Tds deducted u/s 194j(1)(ba)
This query is : Resolved
08 October 2012
Dear Sir,
I want to Know that at the time of Filing of TDS returns if TDS is Deducted u/s 194J(1)(ba), it should be covered in 26Q or 24Q. Kindly explain in detailed.
I want to Know that at the time of Filing of TDS returns if TDS is Deducted u/s 194J(1)(ba), it should be covered in 26Q or 24Q. Kindly explain in detailed.
08 October 2012
It will come under 26Q.
24Q is only for Salary and Interest.
26Q will cover rest of the sections...
24Q is only for Salary and Interest.
26Q will cover rest of the sections...
08 October 2012
Budget 2012 inserted a New clause 1(ba) in Section 194J which mandates TDS @10 % on any remuneration paid to Directors of a company. This clause will be effective from 1st July,2012.
The newly inserted clause (1)(ba) of 194J reads as under:
Any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company shall liable to be deducted @10%.
Hence, Above said deduction is covered under 26Q.
The newly inserted clause (1)(ba) of 194J reads as under:
Any remuneration or fees or commission by whatever name called, other than those on which tax is deductible under section 192, to a director of a company shall liable to be deducted @10%.
Hence, Above said deduction is covered under 26Q.
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08 October 2012
Thanks Balu and Hemant
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