please tell me are there any difference from the tax liability point of view in MD Salary and and other employee salary in income tax act and all the provision are same for both categories? MD's salary will be taxable under the head income from salary, am i right?
06 July 2011
According to me in the view of Income Tax there is no deference between MD salary and other employee salary, but if the MD is making payment as per meeting fees than it will make deference.
Beside this under Companies act Schedule XIII is applicable on MD's salary which is not in case of other's salary.
CAclubindia
