I have a newly incorporated Pvt Ltd company, where I am the majority share holder, I want to show that I am paying myself a salary through the company as a director or CEO, but also want to inject that money back into the company to aid it's growth, as there is no profit right now.
If I'm paying myself a total of 51,000 per month, Is it benificial to show the basic salary as a lower amount and the remaining as incentives, could you confirm what taxes would be applicable, on either the company or me, and if there is any way to get any relief on those taxes.
Also what would be the correct method to reinvest the salary I receive back into the company by also keeping any taxation applicable to a minimum.
Any of your expert help would be highly appreciated, thank you.
CAclubindia
