DIRECTORS REMUNERATION

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sumit bhartia (Querist)
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12 March 2009 Whwther i can pay Rs. 22000.00 in cash every month to Director as remuneration and whether i have to deduct Professional tax on it.

In Directors file it will go under Other Income or In salary head

SUMIT

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
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12 March 2009 EXP.IN EXCESS OF RS.20000/- IN CASH WILL ATTRACT PROV.OF SEC.40A(3). FURTHER PT OF DIRECTORS NEEDS TO BE PAID ONCE IN A YEAR AND COMPLETE AMOUNT NEEDS TO BE DEDUCTED FROM SALARY.

IN DIRECTORS FILE IT COMES UNDER HEAD SALARIES. SINCE HE IS EMPLOYEE OF THE COMPANY.

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