Hello everyone,
I wants your suggestions on following transactions related to director,s , which i came to know while doing statutory audit of a Private Limited co..
1. Can a director take salary from his company, If yes , then to what extent ? If not, what he can take from company ?
2. company incurred travelling expenses for foriegn visit by director, is it permissable ?
Hi,
If the director is involved in day to day activities of the company and he is employed like any other one, he can draw the salary from company.
For remuneration, check this link - /articles/a-glance-on-managerial-remuneration-in-co-act-2013--20418.asp
If the foreign travel epxenses are of business purpose, it is allowable else if its personal trip, they can not be allowed.
Thanks,
Suri
| Originally posted by : CA Suri Kota | ||
 |
Hi, If the director is involved in day to day activities of the company and he is employed like any other one, he can draw the salary from company. For remuneration, check this link - /articles/a-glance-on-managerial-remuneration-in-co-act-2013--20418.asp If the foreign travel epxenses are of business purpose, it is allowable else if its personal trip, they can not be allowed. Thanks, Suri |
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Can director take unstable salary ? I mean it differs from months to months. Some time more , sometimes less and even sometimes no salary !
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