Service tax on director's salary
This query is : Resolved
05 September 2012
MY COMPANY NAME IS ACONOCI INDIA PVT. LTD.
AND IT HAS THREE DIRECTORS AND WE ARE PAYING THEM REMUNERATION RS. 40,000/- EACH. WE'RE ALSO SERVICE PROVIDER. SHOULD WE PAY SERVICE TAX ON DIRECTOR'S REMUNERATION OR NO. IF YES THEN PLEASE TELL ME DATE OF EFFECT.
IS THERE ANY CHANGE IN TDS ON DIRECTOR'S REMUNERATION. MEANS HAS IT BEEN CHANGE FROM 192B TO 194J.
ADVISE ME SOON
AND IT HAS THREE DIRECTORS AND WE ARE PAYING THEM REMUNERATION RS. 40,000/- EACH. WE'RE ALSO SERVICE PROVIDER. SHOULD WE PAY SERVICE TAX ON DIRECTOR'S REMUNERATION OR NO. IF YES THEN PLEASE TELL ME DATE OF EFFECT.
IS THERE ANY CHANGE IN TDS ON DIRECTOR'S REMUNERATION. MEANS HAS IT BEEN CHANGE FROM 192B TO 194J.
ADVISE ME SOON
05 September 2012
Dear Mr Naveen,
Your query requires some clarification.
If the directors are whole time directors then there is no liability of service tax including managing director.
On the other hand, if they are outside directors ie independent directors or non-executive directors receiving sitting fees then, for all the remuneration received will attract 100% service tax under reverse charge mechanism.
Your query requires some clarification.
If the directors are whole time directors then there is no liability of service tax including managing director.
On the other hand, if they are outside directors ie independent directors or non-executive directors receiving sitting fees then, for all the remuneration received will attract 100% service tax under reverse charge mechanism.
Message likes :
1 times
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Disallowance of Section 43B(h) to sez units
- GST Regis.
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- REGARDING ACCOUNTING CODE FOR SERVICE TAX PAYMENT
- Redevolpment of bldg in mumbai
- Refund of AY 22-23
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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?
Trending Online Classes
CAclubindia
