Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Remuneration paid to whole-time directors employed by the company is not liable to service tax, as it is considered salary. However, sitting fees paid to non-employed directors are subject to service tax under the reverse charge mechanism. The matter regarding payment of service tax on sitting fees to non-employed directors needs to be remanded to the adjudicating authority to verify the correctness of the reconciliation provided by the appellant. The Tribunal has relied on previous decisions and held that remuneration in the form of salary to whole-time employed directors is not subject to service tax.
Remuneration paid to whole-time directors employed by the company is not liable to service tax, as it is considered salary. However, sitting fees paid to non-employed directors are subject to service tax under the reverse charge mechanism. The matter regarding payment of service tax on sitting fees to non-employed directors needs to be remanded to the adjudicating authority to verify the correctness of the reconciliation provided by the appellant. The Tribunal has relied on previous decisions and held that remuneration in the form of salary to whole-time employed directors is not subject to service tax.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
