Tds on director remunearation
This query is : Resolved
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
No, TDS will be deducted only if the payment in the year exceeds Rs. 30000
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/-
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07 July 2012
Please read the proviso to section 194J which is applicable to the section and not to particular sub section/clause.
Accordingly, you will get the benefit of Rs. 30000 for clause (ba) under 194J(1) also.
Accordingly, you will get the benefit of Rs. 30000 for clause (ba) under 194J(1) also.
07 July 2012
Sorry, you are right
thanks.
thanks.
07 July 2012
The proviso does not cover clause (ba).
thanks
thanks
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
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