Co-op Bank remuneration is taxable

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31 Points Posted on 21 November 2020
a person in a co-op bank chairman received Salary is taxable under salary head or other sources ?
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On 21 November 2020 at 18:27 Report
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This discussion clarifies the taxability of remuneration received by a Co-op Bank chairman. If the payment is a salary with TDS deducted under Section 192, it's taxed under the 'Income from Salary' head. However, if it's remuneration subject to TDS under Section 194J, it will be classified under 'Income from Other Sources'.

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Accountant
3662 Points Posted on 21 November 2020
Yes, Salary is taxable under Salary Head
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On 21 November 2020 at 19:24
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31 Points Posted on 21 November 2020
Thank Q
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On 21 November 2020 at 19:46
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Student
23693 Points Posted on 21 November 2020
If he received Salary and TDS U/s 192 was deducted on the same, then the Income shall be chargeable to tax under the head "Income from Salary". However if he received any remuneration liable to deduct TDS U/s 194J, then it shall be taxable under the head "Income from Other Sources."
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On 21 November 2020 at 19:56

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