WebMay 5, 2024 · The issue relating to levy of tax on remuneration paid to directors has been a matter of debate since August 07, 2012 when reverse charge mechanism (‘RCM’) was first … Remuneration can come in 2 forms, namely director’s fees and salary. The type of remuneration received will affect the need for disclosure of the … See more As salaries are considered company expenses, directors’ salaries (if any) should be disclosed as part of the company’s expenses in its annual report. As for … See more Companies have to make CPF contributionsonly in respect of the salaries paid to directors who are considered employees engaged under a contract of service. … See more Director’s salaries are taxablesince such salaries are considered income derived from the director’s employment. Directors’ fees are generally taxable as well, but … See more Under section 168 of the Companies Act, companies are prohibited from making any payment of compensation to a director for their loss of office, unless the … See more

GST under RCM on fees or remuneration paid to director

Webliable to Service Tax. Service tax is payable on the commission/sitting fees payable to Non-Whole Time Directors of the company.” A perusal of the above provisions reveals that the … WebApr 9, 2024 · c. MCA had issued a circular clarifying the issue relating to limits of remuneration of directors due to Service Tax on RCM basis on Commission/Sitting fees payable to Non-Whole time director. teas vi exam

Board meeting fees/sitting fees to directors - GST - CAclubindia

http://vsrca.in/service-tax/director-remuneration/ Websection 1: rc composition section 2: rc agenda section 3: non-executive director fees section 4: executive remuneration section 5: equity-based remuneration section 6: talent … WebDec 9, 2024 · Board's FAQ dated 7.8.17. (16) Whether payment of sitting fees to directors covered in the provisions of reverse charge under director services. Reply : Yes, it is … spanish people from spain