07 July 2012
As per section 194 J (1)(ba) tds @10% is to be deducted on payment to director of any fees/commission etc other than amount coverd u/s 192. Is this TDS is to be deducted without considering any overall limit of payment of Rs,30,000/-. It means even payment of Rs.1000/ as sitting fee will attract TDS.
07 July 2012
i dont think so. Please see clauses in provided that no deduction shall be made under this section - only payment made as per (a) (b) (c) & (d) is covered for yearly limit of Rs.30,000/-
07 July 2012
TDS will be deducted on full amount. 30000 limit is not applicable on director fee. so even 1000 Rs will attract 194 J and 10% TDS will be deducted
CAclubindia
