Managing Director and whole time Director (Operations) were paid ...

Board Resolution Allows Commission Payments as Salary for Directors u/s 17, Compliant with Companies Act.

November 4, 2013

Case Laws Income Tax AT

Managing Director and whole time Director (Operations) were paid commission on the basis of duly passed Board Resolution and was in accordance with the provisions of the Companies act. The payment of Commission is necessarily a part of salary as defined in section 17 - claim allowed - AT

View Source

← Previous Next →

Managing Director and whole time Director (Operations) were paid ...

Board Resolution Allows Commission Payments as Salary for Directors u/s 17, Compliant with Companies Act.

November 4, 2013

Case Laws Income Tax AT

You may also like:

Input Tax Credit - Eligibility for Service Tax credit - commission paid to its directors, as per the company’s board resolution - it is clear that payment made to...

Director who does not possess DIN would not be legally entitled to participate in the proceedings of the meeting of Board of Directors. Consequently, a resolution passed...

Genuineness of payment of commission to shareholders employees - As per the agreement, six directors, who were also share holders, were paid additional salary termed as...

The commission was paid to Managing Director and Director (Operations) as per their terms of appointment as is apparent from Board Resolution - claim of expenditure allowed - AT

Disallowance being commission on sales paid to the shareholder Director(s) - If directors in terms of Board resolution are entitled to receive commission for rendering...

TDS u/s 194H or 192 - addition u/s 40(a)(ia) - Non-deduction of TDS on payment of commission to directors - appellant considered payment as salary and deducted TDS u/s...

The director's remuneration in the form of commission based on a percentage of the company's total profit is not subject to service tax under the reverse charge...

TDS u/s 194H OR 192 OR 194J - Disallowance of commission paid to director u/s 40(a)(ia) - where commission is paid to directors as per their terms of employment for work...

Disallowance of commission paid to Managing Director and Working Director - it cannot be doubted that the payment of dividend was made in the guise of commission to the directors.

Disallowance of salary expenses u/s 40A(2)(b) to relatives of the Directors - AO cannot sit on the arm chair of the assessee-company`s Board of Directors and decide that...

Remuneration (salary, allowances, commission on company profits) paid to directors of a company is not liable to service tax under reverse charge mechanism. The Income...

Perquisite in lieu of salary u/s 17(2)(iii) - difference in value between stamp duty valuation and actual sale value - Merely because the assessee happens to be a...

The High Court held that once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan...

Revision u/s 263 - loss incurred by the Directors - trading activity in F & O undertaken on behalf of the company - The trading of sale and purchase of shares done by...

Disallowance u/s 40(a)(ia) – TDS on commission paid to directors - Merely because the directors have shown the said commission income in their hands as “income from...

Quick Updates: