Tds on director remuneration sec 194 j(1) (ba)
This query is : Resolved
29 June 2013
194J(1)(ba) Any remuneration or commission paid to director of the company (Effective from 1 July 2012)
Tds rate will be @10%
our company paid remuneration to directors for Rs.381000 pa for the F.Y 2012-2013 so please advise what is to be done in this case.
Manoj Aggarwal
9310190208
Tds rate will be @10%
our company paid remuneration to directors for Rs.381000 pa for the F.Y 2012-2013 so please advise what is to be done in this case.
Manoj Aggarwal
9310190208
29 June 2013
If the Directors are Whole Time Directors and drawing Monthly Remuneration then TDS u/s 192B is applicable.
But If Directors are being paid Sitting Fees then TDS u/s 194J would be applicable
But If Directors are being paid Sitting Fees then TDS u/s 194J would be applicable
29 June 2013
yes mam, Directors are whole time directors.
and thanks for clean & clear.
Manoj Aggarwal
and thanks for clean & clear.
Manoj Aggarwal
29 June 2013
So 192B is applicable in your case since they are drawing monthly remuneration
29 June 2013
No mam, they are received under tax exempt slab.
1.Director - 15750 pm
2.Director - 16000 pm
1.Director - 15750 pm
2.Director - 16000 pm
29 June 2013
Then TDS is not applicable
29 June 2013
I have a problem about depreciation as per company act 1956 as below-
Original cost value - 9,70,000
accumulated Total Dep. - 8,90,000
Opening wdv in Books - 80,000 as on 1/04/2012
Depreciation as per SLM - 109707 (970000*11.31%) for the year 2012-2013.
in this above case Depreciation Block is higher than gross block of Fixed asset.
so please tell me what will be done in this condition.
As per my view, i have write off opening WDV with Depreciation of Rs. 80000. and block is nil. am i right or not please advise & suggest.
Manoj Aggarwal
Original cost value - 9,70,000
accumulated Total Dep. - 8,90,000
Opening wdv in Books - 80,000 as on 1/04/2012
Depreciation as per SLM - 109707 (970000*11.31%) for the year 2012-2013.
in this above case Depreciation Block is higher than gross block of Fixed asset.
so please tell me what will be done in this condition.
As per my view, i have write off opening WDV with Depreciation of Rs. 80000. and block is nil. am i right or not please advise & suggest.
Manoj Aggarwal
30 June 2013
PLEASE NOTE THAT YOU HAVE TO PAY SERVICE TAX ON THE DIRECTORS REMUNERATION.
30 June 2013
NO, SORRY SINCE YOUR DIRECTORS ARE WHOLE TIME DIRECTORS YOU SHALL NOT HAVE TO PAY SERVICE TAX.
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