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

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....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....