Payment to Director

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....ayment to Director<br> Query (Issue) Started By: - sanjay misra Dated:- 8-11-2011 Last Reply Date:- 10-11-2011 Income Tax<br>Got 2 Replies<br>Income Tax<br>Dear Sir Whether any advance can be paid to....

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.... Directors against remuneration and can be adjusted against remuneration due in subsequent month. At the end of the year all payments has been adjusted against remuneration. As per income tax authori....

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....ty there should not be any debit balance on any day in directors account in a financial year. Thanks Sanjay Reply By Asish Kumar Nath: The Reply: Dear sanjay, As per best knowledge company can't ....

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....pay any advance to Directors. Reply By CA Rachit Agarwal: The Reply: Dear Sanjay, Payment of Advance to director would tantamount to Loan to Director and may lead to default under Section 295. Fur....

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....ther from the Income Tax point of view default may be under 2(22)(e), deemed dividend.<br> Discussion Forum - Knowledge Sharing ....