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Salary in cash

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 June 2012 while doing audit of accounts of a company we have come across with a point Whether salary to director can be made in cash. Will it not
attract provision 40A(3).

Can we pay salary to directors in cash. Is there any violation of provisions in company act.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
22 June 2012 If the amount of salary exceeds Rs. 20,000 then Section 40A(3) is attracted and the expense shall be disallowed.
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