Director receiving remuneration should b classified as under
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 January 2013
If a director receives salary/remuneration from a company.
1) Can he show under Income from Salary in his return? What are the income tax compliance?
2) Can he show under Income from Business/Profession in his return? What are the income tax compliance?
3) What else he can do?
1) Can he show under Income from Salary in his return? What are the income tax compliance?
2) Can he show under Income from Business/Profession in his return? What are the income tax compliance?
3) What else he can do?
19 January 2013
A director if receiving salary from the Company then, while filing his ROI he should show such income under the head Salary income and deduct TDS accordingly,
but he can not show such income under the head business and profession because Company is a seprate legal entity for whom he is working as a director and receives remuneration.
but he can not show such income under the head business and profession because Company is a seprate legal entity for whom he is working as a director and receives remuneration.
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
