CA. Ashish Kumar (CHARTERED ACCOUNTANT) (62 Points)
09 July 2012As per Sec 194 J (1) (ba), Any remuneration or commission paid to director of the company(Effective from 1 July 2012)
shall be chargeable to TDS @ 10% irrespective of Amount paid.
Salary would be covered under Sec 192.
Please clarify whether Sitting fees would be coered under this Section?
Aarush
(Delhi)
(1566 Points)
Replied 09 July 2012
- Any remenuration or fees or commission by whatever name called, other than those on which tax is deductable under sec 192 (salary), to a director of a compny shall liable to dedecuted tds @ 10%.
Now with the insertion of new clause (1)(ba) in sec 194J,it clear that tds has to be made from any remenuration or fee or commission paid to director.
Hence it covered sitting fee also.
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