Director remuneration type of income
This query is : Resolved
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DIVYESH JAIN
(Querist)
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
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
(Expert)
19 February 2020
Yes,
Aggregate turnover for the purpose of GST registration includes all the outward supplies including RCM outwards supplies.
Aggregate turnover for the purpose of GST registration includes all the outward supplies including RCM outwards supplies.
Amol S Joglekar
(Expert)
19 February 2020
yes, it is business income.
.
.
DIVYESH JAIN
(Querist)
19 February 2020
Thanks for the reply
Amol S Joglekar
(Expert)
20 February 2020
you are most welcome.
.
.
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