Please Help: tds on directors remuneration
Posted Date : 03-Jul-2012 , 01:22:24 pm | Posted By ashok modi
he new law on tds on director remunaration , pl confirm if remuneration is below taxable then also tds required or not,
Category : Income Tax | Answers : 2 | Comments : 1 | Hits : 577
Answers
Answer By: Vikash Kumar Jha
As per new law director remuneration will be covered under section 194j that means if income will exceed Rs.30000 then TDS should deducted if such situation will not arise then TDS should not deducted as per my knowledge.
Answer By: Krishna Chandra Santi
If TDS will not be deducted the expenditure "directer remmuneration may get disallowed. As per the new ammendments service of a director is categorized under professional service. So TDS must be deducted u/s 194J.
Comments
ashok modi
04-Jul-2012 , 03:06:50 pmPl clarify that the 30000 limit is there, further the proviso is for remuneration in form of salary or for others rec.