taxability of director's salary
Binay Sahoo (18 Points)
27 August 2018
under which head director's salary will be taxable
1 Replies
Parihar Gopal
(Corporate Taxation )
(392 Points)
Replied 27 August 2018
Hi ,
go through the below Prov - for Taxation of Director salary
Sec. 15 of Income tax Act, Income taxable under the head salaries only if there exists employer & employee relationship between the payer & payee. Sec. 2(13) of Companies Act – meaning of Director – Director as such are not employer or servant of the company . Sec. 56(2) of Income tax Act, specific Income chargeable under the head “Income from other sources “ include Director Fee .
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