Service taxapplicability for directors on board of pvt ltd c
This query is : Resolved
SUBRAMANIAN
(Querist)
01 August 2012
If I get a Fee for being on the Board of a Company ( Pvt Ltd) is Service Tax Applicable to the fee paid to me--I am a non executive Director
What is the current Revenue limit beyond which Service Tax needs to be registered or filed
If I get a Fee for being on the Board of a Company ( Pvt Ltd) is Service Tax Applicable to the fee paid to me--I am a non executive Director
What is the current Revenue limit beyond which Service Tax needs to be registered or filed
RENGARAJ R.K
(Expert)
01 August 2012
There is a lengthy discussion going on in the industries circle about the Director-Employer -Employee relationship. The CBEC has requested the chamber of commerce, industries, tax consultants to provide their considered opinion about this and we have to wait upto mid of august for results.
As on date, the NEDs are liable to pay service tax on their income, commission including sitting fees in their private capacity if their income crosses 10 lacs in a year. TRU (Tax research Unit) would like to bring this under reverse charge.
As on date, the NEDs are liable to pay service tax on their income, commission including sitting fees in their private capacity if their income crosses 10 lacs in a year. TRU (Tax research Unit) would like to bring this under reverse charge.
SANYAM ARORA
(Expert)
01 August 2012
Yes service tax will be applicable and very nice reply by the Expert
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