urgent query

Tax queries 516 views 6 replies

HOW CAN THE COMMISSION RECD TO DIRECTOR FROM CO TREATED AS HIS BUSINESS INCOME ?

 

PLEASE GIVE AN EXAMPLE WITH RESPECT TO UR ANSWER

 

THANKS IN ADVANCE

Replies (6)
I think Commision to director will come as Salary Income to the Director....

COMMISSION RECD TO DIRECTOR WILL BE SHOWN AS SALARY IF HE IS AN EMPLOYEE OF THE CO

BUT IF HE IS NOT AN EMPLOYEE THAN THAT COMMISSION EITHER CAN BE SHOWN AS OTHER SOURCES INCOME OR CAN BE SHOWN AS BUSINESS INCOME

 

 

NOW MY QUESTION IS HOW A DIRECTOR CAN SHOW HIS INCOME UNDER A BUSINESS ?

if a dir is not employee then he may have substantial interest in working of company n so commission recvd is treated as his business income same as in case of brokerage recvd frm sale n purchase of property

THANKS KIRTI

 

N WILL U PLZ TELL ME WHAT KIND OF EXPENSES HE CAN CLAIM FOR DEDUCTION HOW ?

PLZ REPLY SOMEBODY

PLZZZZZZZ

REPLY......


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