Salary & Professional Fees
This query is : Resolved
20 August 2008
A pvt Ltd. company has given a salary of Rs. 2,40,000/- p.a to its employee Mr.A. Further, he has given Professional fees of Rs. 2,50,000/- due to his technical assistance.
Can the company give an employee (employed for the whole year) salary as well as professional fees
Can the company give an employee (employed for the whole year) salary as well as professional fees
20 August 2008
If the employee is a professional or possesses proven skills, the answer is Yes.
The employee may have to take care of the service tax compliance, to the extent applicable.
It has to be ensured & established that this is not an arrangement purely to evade tax
following news item will be relevant
http://www.thehindubusinessline.com/2007/08/09/stories/2007080952770100.htm
The employee may have to take care of the service tax compliance, to the extent applicable.
It has to be ensured & established that this is not an arrangement purely to evade tax
following news item will be relevant
http://www.thehindubusinessline.com/2007/08/09/stories/2007080952770100.htm
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Offsetting interest income against derivative trading losses
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
