Salary & Professional Fees
This query is : Resolved
20 August 2008
A pvt Ltd. company has given a salary of Rs. 2,40,000/- p.a to its employee Mr.A. Further, he has given Professional fees of Rs. 2,50,000/- due to his technical assistance.
Can the company give an employee (employed for the whole year) salary as well as professional fees
Can the company give an employee (employed for the whole year) salary as well as professional fees
20 August 2008
If the employee is a professional or possesses proven skills, the answer is Yes.
The employee may have to take care of the service tax compliance, to the extent applicable.
It has to be ensured & established that this is not an arrangement purely to evade tax
following news item will be relevant
http://www.thehindubusinessline.com/2007/08/09/stories/2007080952770100.htm
The employee may have to take care of the service tax compliance, to the extent applicable.
It has to be ensured & established that this is not an arrangement purely to evade tax
following news item will be relevant
http://www.thehindubusinessline.com/2007/08/09/stories/2007080952770100.htm
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