Director remuneration type of income
This query is : Resolved
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
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.
19 February 2020
yes, it is business income.
.
.
19 February 2020
Thanks for the reply
20 February 2020
you are most welcome.
.
.
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- LIABILITY ADJUSTMENT
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
