Hi,
Please guide me for the TDS on Directors' Sitting Fees. whether TDS is applicable or not ? if yes please mention under which section?
With regards & thanks
Nitin Patel
3 Replies
Ajay Kumar Sana
(CA & CS)
(48 Points)
Replied 03 December 2008
Directors' sitting fees taxable under the Income form Other Sources Sec56(1).
TDS to be deducted @ higher slab rate.
caselvaraja
(Senior Executive)
(20 Points)
Replied 03 December 2008
| Originally posted by :patel nitin | ||
| " |
Hi Patel, TDS need to be deducted Under Section 194 J - Professional charges Hi, |
" |
CA Uttam
(Chartered Accountant)
(406 Points)
Replied 03 December 2008
Hi Patel,
Any amount paid to Directors is treated as Director's Remuneration as per Companies Act 1956.
Sitting Fees is to be shown separately in P&L a/c.
TDS should not be deducted on it
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