Please confirm a query. An Individual is a Director of 2 Companies Simultaneously Can he withdraw Salary from both the companies at the same time, if so what are tds provision that can come into effect. As we know:- 1) Those Director who are coming under the purview of employment, his salary/ remuneration will be liable to TDS U/s 192 2) Those Director who are not coming under such provision, his salary/ remuneration will be liable to TDS U/s 194J
01 December 2021
Section 165(1) of the Act states that a person can hold the office of director simultaneously in 20 companies. The number of 20 companies includes the office of alternate directorship.
01 December 2021
No. A person can act as a whole time director of only one company and not more than one company. Hence he can draw remuneration from one company only.
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