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of <h1>Interest on Advances Not Part of Directors' Remuneration, Only Guarantee Commissions Included u/s 309.</h1> The circular addresses whether interest on advances and guarantee commissions paid to directors should be included in directors' remuneration under section 309. It clarifies that guarantee commissions paid for undertaking liability on company loans are considered remuneration under section 309. However, interest paid to directors for loans advanced to the company is not considered remuneration, as it is seen as a return on investment similar to what could be earned elsewhere. Thus, only guarantee commissions fall within the scope of section 309, not interest on advances.
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