Salary as well as professional fees to MD of the company
This query is : Resolved
Dharmishta Tank
(Querist)
25 March 2008
Please clarify! Can a MD of the company receive salary as well as professional fees from the company!If so TDS is to be deducted U/s. 192 and 194J is it!
CA. Amit Daga
(Expert)
25 March 2008
Sir in case of Director you need to follow schedule xiii of the companies act ..acc to the act professional fees also come under the salary for md
Dharmishta Tank
(Querist)
25 March 2008
Please go through this section This shows that it will not be included in Salary
Payment of fees for professional services to a
Director- Whether to be included for Schedule
XIII calculations
Any remuneration paid for professional services
rendered by any director shall not be included in calculating
the managerial remuneration under Schedule XIII,
if he has the requisite qualification for the practice of the
profession. [Proviso to Section 309(1)]
Payment of fees for professional services to a
Director- Whether to be included for Schedule
XIII calculations
Any remuneration paid for professional services
rendered by any director shall not be included in calculating
the managerial remuneration under Schedule XIII,
if he has the requisite qualification for the practice of the
profession. [Proviso to Section 309(1)]
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