Applicability of Service Tax on commission payable to Non-Whole Time Directors of a company under section309(4) of the companies act,1956.

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..... 9th Aug, 2012 The Finance Act, 2012 has introduced Service Tax which is applicable to anyone who provides a Service not covered under the negative/exempted list and if the value of annual revenue is more than Rs. 10 lakh. The Non-Whole Time Directors of the Company are presently not covered under the exempted list and as such, the sitting fee/commission payable to them by the company is .....

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..... ayment of service tax on commission payable to them by the company shall not require approval of Central Government under sections 309 and 310 of the Companies Act even if it exceeds the limit 1% or 3% of the profit [ u/s 309(4) ] of the company, as the case may be, in the financial year 2012-13. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - .....

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