Director remuneration type of income

This query is : Resolved

DIVYESH JAIN (Querist)
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19 February 2020 Dear Sir,

Is Director Remuneration considered as Business income in the hands of the Director.

A person is a Director in the company from which he has earned salary income of Rs. 4 lacs. He also carries on business in his personal name in which total income is 17 lacs as Contract receipt. Tds is deducted u/s 194c on this contract receipt.

Does the person has to club both the income director remuneration and business while preparing his Profit and loss, if done then the person becomes liable to register under gst.

Please help on the above matter.

Regards,
Divyesh Jain

CA Anita Bhadra

CA Anita Bhadra (Expert)
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19 February 2020 Yes,
Aggregate turnover for the purpose of GST registration includes all the outward supplies including RCM outwards supplies.

Amol S Joglekar

Amol S Joglekar (Expert)
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19 February 2020 yes, it is business income.
.

DIVYESH JAIN

DIVYESH JAIN (Querist)
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19 February 2020 Thanks for the reply

Amol S Joglekar

Amol S Joglekar (Expert)
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20 February 2020 you are most welcome.
.

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