Hello Everyone
I want to know that how much remuneration can be paid to the Director of Section 8 Companies ?
AJAY BABAN NAVALE (Student) (54 Points)
01 April 2024Hello Everyone
I want to know that how much remuneration can be paid to the Director of Section 8 Companies ?
Nikhil Kaushik
(Fellow CA)
(85304 Points)
Replied 01 April 2024
you can pay a reasonable amount. However, in case the director is also a member, then please follow the restrictions placed by section 13 of the Income-tax act.
RAJA P M
("Do the Right Thing...!!!")
(127351 Points)
Replied 02 April 2024
Nikhil Kaushik
(Fellow CA)
(85304 Points)
Replied 02 April 2024
no. But in this case ie Section 8 company, there are restrictions placed in the Income-tax Act.
RAJA P M
("Do the Right Thing...!!!")
(127351 Points)
Replied 02 April 2024
| Originally posted by : Nikhil Kaushik | ||
 |
no. But in this case ie Section 8 company, there are restrictions placed in the Income-tax Act. |  |
Okay sir thank You.
Yes, I asked other than sec 8company.
One more doubt...
In a pvt Ltd company one of a director is uneducated. He is the highest shareholder.
So, he received director salary and increased every year.
Is this possible...?
Is any issues face the company in future...???
Nikhil Kaushik
(Fellow CA)
(85304 Points)
Replied 02 April 2024
no. there is no issue as such. Even from tax perspective, higher salary is good only for tax authorities! his education has no link to his salary.
RAJA P M
("Do the Right Thing...!!!")
(127351 Points)
Replied 02 April 2024
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