Directors remuneration subject to approval by shareholders is shown as payable in audited financial statements, the shareholders do not approve the same.
whether the adjustment for same be made in next year and what will be the impact on tax liability, will tax liability increase for the year in which remuneration is claimed as expense or in the next year when correct adjustment is made?
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Accounts and income tax query
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A salary or fee paid to a director who is an employee or who provides some other non-directorial service to the company: Does not need to be approved at General Meeting according to section 169 of the Companies Act but must be approved by the Board of Directors
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