Ashish, director of PQR Ltd. is eligible for board sitting fees of ₹10,000 for every meeting attended by him. During the year 2018-19, he had attended six meetings. The amount of tax required to be deducted from such sit

CS Executive · Tax Laws and Practice · PYQS · June 2019
Ashish, director of PQR Ltd. is eligible for board sitting fees of ₹10,000 for every meeting attended by him. During the year 2018-19, he had attended six meetings. The amount of tax required to be deducted from such sitting fees to be paid to Ashish by the company shall be :
(A) ₹12,000 @ 20%
(B) ₹1,200 @ 2%
(C) ₹3,000 @ 5%
(D) ₹6,000 @ 10%

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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