Shareholder and Consultant to same company
This query is : Resolved
Sumit Arora
(Querist)
22 June 2022
If I am shareholder of a company (25%+), can I also consult them and charges professional fees?
Will this payment be accounted under 'income from salaries' or 'income from business'.
Will this payment be accounted under 'income from salaries' or 'income from business'.
08 July 2022
There are restrictions over some of the consultancy services to be provided to own company.
If board has approved the sort of consultancy service from your end, you have to charge professional fees.
If board has approved the sort of consultancy service from your end, you have to charge professional fees.
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