Appointment of Manager, relative of director
This query is : Resolved
Guest
Guest
(Querist)
18 December 2010
Can director's relative appointed as manager for Rs. 60,000/- p.m. in Pvt.Ltd. Co. Is it Sec.314 applicable.
Is it any limit for the above remuneration
Is it necessary for Pvt.Ltd., co approval from Central Government
Is it any limit for the above remuneration
Is it necessary for Pvt.Ltd., co approval from Central Government
18 December 2010
Yes. Director's relative can be appointed. However special resolution in GM is required as specified in section 314 of the Companies Act. Further the remuneration exceeds the limit of Rs.50,000/- provided in the Director's relatives (office or Place of Profit) Rules,2003. Hence CG approval is also required.
Guest
Guest
(Querist)
19 December 2010
Is it necessary for Pvt.Ltd., co approval from Central Government
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
