Tds on sitting fee

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Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2013 Rs 20000/- Sitting Fee paid to part time Director.
is it liable to TDS u/s 194J?

Ganeshbabu K

Ganeshbabu K (Expert)
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04 July 2013 Yes ,it is liable to tds 194J claue 1(ba),

Threshold limit not available for persons covered in clause 1(ba)

refer first proviso (B) FOR 194J for more---

Thanks & regards
Ganesh babu k

Ajay Mishra

Ajay Mishra (Expert)
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04 July 2013 It will be treated as professional fee and he will be liable to pay TDS @10% after Rs. 30000/-

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swasti

swasti (Expert)
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04 July 2013 As per the new provisions, TDS has to be deducted on Directors Sitting Fees. The cieling limit of Rs 30000/- does not applies on it and accordingly TDS @ 10% has to be deducted on Rs 20000/- u/s 194J(1)(ba).