Director remuneration

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2016 Dear All,
Please clarify Weather director remuneration can
be disallowed u/s 40A(2)(b) or not as company is giving Rs. 1 lakh to its directors,

Thanks,
Anil kumar

Expert : Anonymous

Expert : Anonymous (Expert)

24 September 2016 Section 40A(2)(b) talks of disallowance of excessive amounts paid to related parties. If the amount paid is within the statutory limits of companies act then issue of disallowance in Income Tax does not arise since statute under which company is governed permits payment of the same.

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