Audit

This query is : Resolved

Share Report Follow Query Ask a Query

sanjay kumar

sanjay kumar (Querist)
Follow

20 September 2014 if director remuneration exceed 25 lakh tax audit applicable ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

20 September 2014 i) If tax is deducted under section 192, the concerned Director has to offer the income under the head 'income from salary' and has to file the return accordingly.

ii) If tax is deducted under section 194J (courtesy to Finance Bill 2012), return has to be filed by the said Director offering the income under the head "Income from business/profession" and if such professional income exceeds the limits of 44AB, tax audit also becomes mandatory.

Therefore, selecting the section of tax deduction and tax audit needs judgment after analyzing the underlying facts of the appointment.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

cgagroshg cgagroshg

venkanna setty

Jayaram Bramhajosyula

NITHIN GEORGE

DHRUV PATEL

Subscribe Now

Audit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

CA Final

Accountant

GST CONSULTANCY

GST CONSULTANT