Does Director siting fees qualify for TDS u/s 194J as Director Remuneration if the amount exceeds Rs20000 and it is the only form of consideration to the Director?
3 Replies
CA.Sanjay Chopra
(Job)
(42 Points)
Replied 24 September 2008
Sitting fee paid to director is considered as Managerial remuneration as per income tax Act. There Tax at source will be deducted accordingly as per sec 192B not 194J.
CA sandesh Dabhade
(Chartered Accountant)
(105 Points)
Replied 24 September 2008
yes it is liable for TDS as it is a remunaration
CA Anil Jain
(Chartered Accountant)
(696 Points)
Replied 24 September 2008
u/s 192B i.e. under the head salary not in professional
as there exits employer-employee relationship
Rgds/-
Anil Jain
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