I'm a director and majority share holder of a private limited company that provides software services.
I've been the main engineer behind all services provided by the company and taking income in the salary head for last 4 years.
I came to know that I can also claim 44ADA if I take professional fee instead of salary from my company which will reduce my tax burden and compliance significantly.
Is that correct or some rule actually prevents me to do so?
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Can a PVT LMT company director get paid professional fee by the company?
Replies (4)
Yes , but depending upon the assignment or agreement he received.
Https://simplybiz.in/can-an-executive-director-also-provide-consultancy-professional-services-to-the-company/#:~:text=Section%20197(4)%20%E2%80%93%20As,per%20the%20opinion%20of%20the
it's possible. very detailed article on this in above link.
it's possible. very detailed article on this in above link.
I can also share . But pls post synopsis
Anybody can share but someone has to Google search and post something helpful to querist. which I did and you did not sir. In this case, lets see if you ( Mr. Sabyasachi Mukherjee ) spends time to make and post synopsis to help the querist or is just going to keep posting such jealous, hatred, negative and inferior comments on other members comments. I must say this, "Everyone is so insecure these days"
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