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Director's Remuneration

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(Querist)
26 March 2009 My question is whether director' remuneration for the month of March,2009 can be paid on 27/03/2009 i.e. before the end of the month.

If yes, then should the same will be accounted as Advances or not?

Regards, Jyoti
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Sanjay Soni

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Sanjay Soni (Expert)
26 March 2009 Even you can make payment on 01/03/2009 but the compliance as per companies act of specified limit of remuneration should be looked.

however if there is specific agreement/board's condition for time of payment then that has to be followed or else permission can be taken from board for early payment.

if payment is itself for march you can directly book it to expense account.
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