DIRECTORS REMUNERATION
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 May 2010
Can a company pay remuneration to its directors in cash?
01 June 2010
Yes, can be paid in cash. there is nothing in companies act against it. So can be paid in cash.
Rider - In income tax act, if any payment made above rs.20,000 in cash will not or upto some percentage soem kind of exemption is not vailable.
Kinldy check the IT act or google search "income tax rs.20,ooo payment"
Regards,
Vignesh J
Rider - In income tax act, if any payment made above rs.20,000 in cash will not or upto some percentage soem kind of exemption is not vailable.
Kinldy check the IT act or google search "income tax rs.20,ooo payment"
Regards,
Vignesh J
Kishen K Warrier
(Expert)
01 June 2010
agree.
if payment aove rs.20000 complete disallowance under Sec 40A(3)of IT Act.
if payment aove rs.20000 complete disallowance under Sec 40A(3)of IT Act.
01 June 2010
Agree
can not pay above Rs. 20000/- in cash becouse the same will be disallowed.
can not pay above Rs. 20000/- in cash becouse the same will be disallowed.
CMA Arif Farooqui
(Expert)
05 June 2010
company can pay as their is nothing mention in Companies Act.
But cash payment is covered u/s 40A(3)of IT Act, so it will be disallowed while computing Company Income
But cash payment is covered u/s 40A(3)of IT Act, so it will be disallowed while computing Company Income
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