Service tax liability on directors sitting fees
This query is : Resolved
Bhuvaneshwar Sharma
(Querist)
18 August 2012
whether service tax will be applicable on director's sitting fees paid to independent directors or not?
CA Nikhil Jhanwar
(Expert)
20 August 2012
Yes Service tax is payable on Directors sitting fees. But it is covered under reverse charge so service tax shall be paid directly by company to he government.
RENGARAJ R.K
(Expert)
27 August 2012
Upto 06.08.2012 the liability of paying service tax lies with the independent directors (01.07.12 to 06.08.12) if their remuneration cross 10 lacs, and from 07.08.12 as explained by the expert it is under reverse charge.
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