Directors remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2013
Dear Sir,
We are 5 directors of a private limited company. We are all taking directors remmuneration on monthly basis. Now I have few queries on the same.
1. Is there any executive or non executive directors. What is the meaning of the same.
2. Do we need to pay service tax against directors remmuneration. Which category of directors need to pay service tax and how much is the service tax.
We are 5 directors of a private limited company. We are all taking directors remmuneration on monthly basis. Now I have few queries on the same.
1. Is there any executive or non executive directors. What is the meaning of the same.
2. Do we need to pay service tax against directors remmuneration. Which category of directors need to pay service tax and how much is the service tax.
07 September 2013
Hi
Yes, All director other than Managing Director and whole time director are called executive director unless they have been appointed as executive director.
Non Executive director are those director which do not involve day to day affairs of the company.
The director who received remuneration will be covered under TDS provisions and not under service tax provisions.
Director who is also giving professional service will be covered under service tax.
Yes, All director other than Managing Director and whole time director are called executive director unless they have been appointed as executive director.
Non Executive director are those director which do not involve day to day affairs of the company.
The director who received remuneration will be covered under TDS provisions and not under service tax provisions.
Director who is also giving professional service will be covered under service tax.
07 September 2013
To know more on TDS on director remuneration, go to the following link:
https://www.caclubindia.com/articles/tds-on-remuneration-paid-to-directors-13422.asp#.UO-tTuSE2Jw
https://www.caclubindia.com/articles/tds-on-remuneration-paid-to-directors-13422.asp#.UO-tTuSE2Jw
07 September 2013
The executive directors are employers of the company. Usually, they are whole time directors.
Other than executive directors, as a company, you have to pay service tax @12.36% under reverse charge for the sitting fees, commission and other claimable expenses, 100% for service receiver. For TDS, kindly refer the reply by the Expert, Sri Ajay Mishra.
Other than executive directors, as a company, you have to pay service tax @12.36% under reverse charge for the sitting fees, commission and other claimable expenses, 100% for service receiver. For TDS, kindly refer the reply by the Expert, Sri Ajay Mishra.
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
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- 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
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
