Provision for Remuneration paid to Directors

This discussion addresses the accounting entries for director remuneration paid in June 2020 for March 2020, due to lockdown. It covers how to record the payment and TDS deduction, particularly when the return for the quarter ending June 2020 hasn't been filed. The advice suggests debiting the director's personal account and crediting salary payable, with specific guidance on classifying TDS on salary receivable and salary from the company, potentially under the capital account. It also touches on handling scenarios where TDS was deducted at a lower rate.