Home Highlights February 2014 Year 2014 This

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1. 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...

2. 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.

3. 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...

4. 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...

5. 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...

6. Levy of service tax - remuneration paid by a company to the Managing Director and the whole time Executive Director - whether such income is a salary income or otherwise...

7. Section 196(3) of Companies Act, 2013 does not interrupt appointment of Managing Director where at date of such appointment or re-appointment Managing Director was below...

8. Disqualification upon the petitioners for acting as Directors of Companies - Deactivation of DIN - Section 164(2) must be given only prospective operation and the...

9. 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...

10. Addition on commission paid to the Managing Director of the assessee company, u/s 36(1)(ii)- The directors are not only shareholders of the company. Therefore, it cannot...

11. 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...

12. Clandestine removal - Jurisdiction - The statement of the Managing Director recorded under Section 14 of the Act of 1944 could be relied upon and treated as a relevant...

13. Appointment of managing director, whole-time director or manager - Section 196 of the Companies Act, 2013 - Amendments came into force w.e.f. 12.9.2018

14. Remuneration paid to the Managing Director - Limited scrutiny assessment - AO did not make any discussion on the deductibility or otherwise of losses and examined the...

15. The court interpreted Section 141 of the Negotiable Instruments Act, holding that managing directors and joint managing directors are responsible for the company's...