Director's salary
This query is : Resolved
04 May 2009
A director has rendered service for the whole year enden 31.03.09. He has not been paid any salary since the same will be decided in the forthcoming AGM.
This means that the director's salary is accrued but not due.
As per Income Tax Act, salary shall be taxable on due basis.
For F.Y.2008-09,what will be his tax liability?
This means that the director's salary is accrued but not due.
As per Income Tax Act, salary shall be taxable on due basis.
For F.Y.2008-09,what will be his tax liability?
05 May 2009
It has not acccrued as of now. It will accrue only after salary is decided.
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