Withdraw money from OPC

950 views
User Avatar

Director
28 Points Posted on 24 January 2021

Hello,

I am sole director in an OPC, which is engaged in export of software services. I haven't withdrawan any salary till now. I have a few contractors who raise bill to company and save tax using 44ADA, can I also raise an invoice to my company for technical services that I provide to the company? (I know for director services GST has to be paid on RCM basis, hence the distinction for both kinds of work)

Or is withdrawing it as salary my only option?

 

Thanks

 

0 Reply Share Follow Topic
On 24 January 2021 at 21:39 Report
Replies (2)
Quick Summary
A sole director of an One Person Company (OPC) is seeking advice on how to withdraw funds. They haven't taken a salary yet and are wondering if they can invoice the company for technical services, similar to how contractors use Section 44ADA for tax purposes. Alternatively, they are considering taking a salary. The core question is whether a contract payment is a viable option to benefit from 44ADA, rather than solely relying on salary.

User Avatar

Chartered Accountant
16188 Points Posted on 24 January 2021
You can withdraw salary without issuing invoices
Reply
On 24 January 2021 at 22:20
User Avatar

Director
28 Points Posted on 24 January 2021

Thing is I don't want it as salary but as contract payment so I can take benefits under 44ADA

Reply
On 24 January 2021 at 23:09

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. This is a gift for all Chartered Accountants and P
  2. NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
  3. Wallet query for GST.
  4. 25-26 exempted sales
  5. Hotel stay below Rs.1000/- GST applicable or exemp
  6. NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
  7. Generate E-Way Bill for 4 Nos. Suppliers Involveme
  8. Section 54F Exemption
  9. Would you use a free, open-source alternative to s
  10. Business & Finance

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details