Deceiding the head for such income
This query is : Resolved
20 March 2014
dear sir/madam
A person is a partner in 4 firms and he is aslo a director for a pvt company,,,and i am filing his return under ITR-3,my doubht is how to treat directors remunaration? can i treat it as income from other sources or income under business or profession??? please let me know
thank you
A person is a partner in 4 firms and he is aslo a director for a pvt company,,,and i am filing his return under ITR-3,my doubht is how to treat directors remunaration? can i treat it as income from other sources or income under business or profession??? please let me know
thank you
20 March 2014
1. If the remuneration is paid as salary, then it is taxable under the head Income from Salary.
2. If the remuneration is NOT paid as salary, then it is taxable under the head Income from Business or Profession.
2. If the remuneration is NOT paid as salary, then it is taxable under the head Income from Business or Profession.
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