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Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Salary income or professional income - Amount received by the ...


Consultancy Charges for Managing Director Reclassified as Professional Income, Not Salary, per Board Minutes and Form 16A.

May 25, 2016

Case Laws     Income Tax     AT

Salary income or professional income - Amount received by the managing director as consultancy charges - the assessee is a consultant to the company as per the minutes of Board of Directors and form no.16A was issued on such terms and conditions agreed between them - AO directed to exclude the professional income clubbed in salary income - AT

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