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Where shows director fees received in st return

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The Vacuum Forming Company

Proprietor

34 Points Posted on 24 July 2014

I going to file service tax return on an individual, who received income from company as a " Director sitting fees, & commission " under " REVERSE CHARGE MECHANISM" .

His total fees for year 2012-13 is approx 25 Lacs ,

out of this Rs. 20 Lacs received as a Director Fees (194J) under " REVERSE CHARGE MECHANISM "

& Remaining Rs. 5 Lac is Professional Fees. under 194J

My queries are ;

1) Shall he file Nil return as his service tax liablity only of Rs. 5 Lacs, ( which come under Threshold limit. 10 Lac).

2) Where to show Director Fees received (194J) under " REVERSE CHARGE MECHANISM " In service tax retun.

Replies (1)

Harendra Kumar

Tax Advisor

1326 Points Posted on 25 July 2014

In this regard Directors Meeting Fee recd. by you only one of the company or various company. It is the question will be arise. But Entire serviced tax liability under Director Meeting Fee is company only non of other.

Now other question it that you recd. Rs. 5 Lakh on account of Professional fee in this reagrd you are not liable to pay service tax under Commission inome because you can adopt the benefit of SSI Exemption in this reagrd.

You should have file the NIl return with full information kin thsi reagrd.

Thanking you,