Deceiding the head for such income

This query is : Resolved

CH.Sarath (Querist)
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20 March 2014 dear sir/madam

A person is a partner in 4 firms and he is aslo a director for a pvt company,,,and i am filing his return under ITR-3,my doubht is how to treat directors remunaration? can i treat it as income from other sources or income under business or profession??? please let me know

thank you

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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20 March 2014 1. If the remuneration is paid as salary, then it is taxable under the head Income from Salary.

2. If the remuneration is NOT paid as salary, then it is taxable under the head Income from Business or Profession.