Commission to Non-Executive director whether salary u/r 3
This query is : Resolved
05 November 2008
Mr. X is a whole time director and has been allotted rent free co. owned accommodation by the company . In addition, he is also on the board of various other group/non-group cos. (all of which are independent public cos.) as an non-executive director. He is paid sitting fees for board meetings attended by him and is also paid commission (along with other non-executive directors) by these other cos. based on certain criteria/performance of the respective co.
Can the commission received by him from these cos. be considered as forming part of salary (as received from other "EMPLOYERS") for the purpose of valuation of benefit under rule 3 for rent free co. owned accommodation provided to him.
Can the commission received by him from these cos. be considered as forming part of salary (as received from other "EMPLOYERS") for the purpose of valuation of benefit under rule 3 for rent free co. owned accommodation provided to him.
05 November 2008
Payment of sitting fee and commission to non-executive director will be income from other sources.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- REGARDING GST LIABILITY/....
- STCG FOR GOLD ETFs
- TDS related Query_Liquidated Damages
- Specified Profession
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
