Do the company needs to deduct TDS monthly u/s 192 when a company decides to pay specific % as share in profit to director.
2 Replies
Ankit
(CA, CS)
(3064 Points)
Replied 21 June 2014
Dear Abhilasha,
The deduction u/s 192 is to be made only incase of a Whole Time Director. If the monthly payment is to a non executive director, the same may be treated as commission and TDS shouyld be made under 194J - Professional Fees.
If you have any further query...please ask
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 21 June 2014
ankit is right the same shall be considered as commission and requires TDS to be deducted as normall.
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