Deepali Mangwani (Tax and Audit Assistant) (25 Points)
11 December 2013Whether salary given to directors of a pvt ltd co. is to be entered in the register of contracts u/s 301..??
The company has 2 directors, both are incharge of the operations therefore they get salary. The director itself (not any related party) is drawing salary then why is the disclosure needed u/s 299..??
Does any or every contract or arrangement with the director, whether of general or special nature, be entered in the register maintained u/s 301.
Sneha
(Company Secretary)
(1594 Points)
Replied 11 December 2013
No, salary given to director is not required to be entered in the register maintained under section 301 of the Act
Deepali Mangwani
(Tax and Audit Assistant)
(25 Points)
Replied 13 December 2013
if an arrangement of loan from director is to be entered then why not salary..?
Dear Sneha ji, can i get to know the provisions of the act that support the view coz its total confusion in here.
CAclubindia
