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Tds of director when remuneration from more than one company

L. Jha (VP) (40 Points)

28 March 2016

Dear Sir,

Kindly suggest when a director geting remuneration from more than one company, what are the sections allpicable for TDS.

As per my view 192B is in one company and 194J in remaining company. But my consultant deducting TDS in 192 B for all company.

Regards.

L. Jha

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3 Replies

Jacky (Accountant & CA Final Student) (320 Points)
Replied 28 March 2016

I think when director is whole time director or M.D then only tds should be deducted under 192

Otherwise u/s 194J

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L. Jha (VP) (40 Points)
Replied 28 March 2016

Dear Jacky

That means a director can only be whole time director in one company ?

Thanks

Jacky (Accountant & CA Final Student) (320 Points)
Replied 28 March 2016

yes

A Managing Director is a Director who has substantial powers of management of the affairs of the company subject to the superintendence, control and direction of the Board in question.

A Whole-time Director includes a Director who is in the whole-time employment of the company, devotes his whole-time of working hours to the company in question and has a significant personal interest in the company as his source of income.