DIRECTORS REMUNERATION
This query is : Resolved
pardeep jain
(Querist)
09 December 2007
HOW MUCH A PRIVATE LIMITED COMPANY (WHICH IS NOT A SUBSIDIARY OF ANY COMPANY) pay director remunertion cosidering income tax act and company acT. (2) IN PERSONAL ITR OF DIRECTORS UNDER WHICH HEAD OF INCOME THE REMUNERATION WILL BE TAXABLE.
pardeep jain
(Querist)
09 December 2007
PARDEEP1001
10 December 2007
THERE IS NO BAR ON PVT LTD CO. WHICH IS NOT A SUBSIDIARY OF PUBLIC LTD CO.. HOWEVER IT SHOULD BE REASONABLE KEEPING IN VIEW TIME DEVOTED, EFFORTS PUT IN, QUALIFICATION & EXPERIENCE OF DIRECTOR, PROFITABILITY OF COMPANY, ETC.
IT WILL BE TAXED UNDER THE HEAD 'SALARIES'
THANKS,
IT WILL BE TAXED UNDER THE HEAD 'SALARIES'
THANKS,
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