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Withdraw money from OPC

TG (Director) (31 Points)

24 January 2021  

Hello,

I am sole director in an OPC, which is engaged in export of software services. I haven't withdrawan any salary till now. I have a few contractors who raise bill to company and save tax using 44ADA, can I also raise an invoice to my company for technical services that I provide to the company? (I know for director services GST has to be paid on RCM basis, hence the distinction for both kinds of work)

Or is withdrawing it as salary my only option?

 

Thanks

 


 2 Replies

Sourav (Student) (23917 Points)
Replied 24 January 2021

You can withdraw salary without issuing invoices

TG (Director) (31 Points)
Replied 24 January 2021

Thing is I don't want it as salary but as contract payment so I can take benefits under 44ADA


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