CA Shruti Gupta (CMA FINAL CS Final) (1434 Points)
26 February 2014Please clear my doubt...its urgent
in which section TDS will be deducted on Director Remuneration ....Section 192 or Section 194 J (1)
Deepak Gupta
(CA Student)
(15922 Points)
Replied 26 February 2014
| Originally posted by : CA Shruti Gupta | ||
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Please clear my doubt...its urgent in which section TDS will be deducted on Director Remuneration ....Section 192 or Section 194 J (1) |
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> It depends on the director’s relationship with the company.
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> If any remuneration/fee/commission by whatever name called paid to a director, which is not in the nature of salary, then tax is required to be deducted u/s 194J @ 10% w.e.f 01.07.2012. In this case there is no threshold limit of Rs. 30,000.
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> When the payment is made on account of salary, then tax shall be deducted u/s 192, if the director is an employee of the company.
Binod
(Student CA Final )
(386 Points)
Replied 26 February 2014
Agreed with answer given above by Deepak
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 26 February 2014
Deepak Gupta has given the right answer .
Santosh Ku. Singh
(Accounts Practice)
(23 Points)
Replied 26 February 2014
CA.Sujit Sonavane
(proprietor)
(21 Points)
Replied 26 February 2014
Mihir
(Wealth Manager)
(5293 Points)
Replied 27 February 2014
Agreed with Mr. Deepak. You may check the appointment letter and/or board resolution on director appointment for details about his employment contract.
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 27 February 2014
Letter of Appointment board resolution application of reverse charge all are important points. A small note whatever paid to whole time directors will be in the nature of salary only
Hemanshu Rohitkumar Bakshi
(Credit Controller)
(197 Points)
Replied 27 February 2014
CAclubindia
