What is the method of deducting income tax on remuneration to directors of a company?
Is it u/s 194J-Fees for professional or technical services
or
u/s 192B-Salary???
SIVARAMAKRISHNAN P.G (CA final student) (129 Points)
06 March 2014What is the method of deducting income tax on remuneration to directors of a company?
Is it u/s 194J-Fees for professional or technical services
or
u/s 192B-Salary???
Deepak Gupta
(CA Student)
(15922 Points)
Replied 06 March 2014
| Originally posted by : SIVARAMAKRISHNAN P.G | ||
 |
What is the method of deducting income tax on remuneration to directors of a company? Is it u/s 194J-Fees for professional or technical services or u/s 192B-Salary??? |
 |
> It depends on the director’s relationship with the company.
.
> 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.
.
> 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.
V!$H@L $!ngh@L
(free.........)
(87 Points)
Replied 07 March 2014
deepak gupta -- good explanation.
thanks
Komal Agrawal
(Article Student)
(651 Points)
Replied 07 March 2014
it depends on relationship.............
but generally TDS is deducted u/s 192
nikhil
(NA)
(22 Points)
Replied 07 March 2014
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