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Withdraw money from OPC


TG (Director)     24 January 2021

TG
Director 
 31 points

| My Other Post

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

 

Sourav

Sourav (Student)     24 January 2021

Sourav
Student 
 500 likes  8175 points

View Profile | My Other Post
You can withdraw salary without issuing invoices
TG

TG (Director)     24 January 2021

TG
Director 
 31 points

View Profile | My Other Post

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


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