24 May 2012
If a director of pvt companies withdrawing salary from each company. Exemtion will be available on indivisual salary basis or on overall salary income basis.
Exemption means tax relief in relation to reimbursement of medical exp., daily allow, helper allow, education allowance , uniform allo. perqusites, etc.
24 May 2012
each of the company while processing the directors salary may provide for exemption and deduction based on the declaration of the director and company;s CTC.. however the director then shall have to consolidate all into his personal computation and the amount of claim for any deduction or exemption shall not exceed the specified limits.. eg: Conveyance allowance max allowed is Rs.9600 (though each co. may provide for the same).
CAclubindia
