We have to give the directors salary amounting to Rs. 1 lakh pm of one of the dirctor of the private co.as DIRCTOR SALARY . Is there any prohibition or procedural to be followed. The article of association is silient on the director salary as such. Table A is also silent.
Kindly reply.

Dear All,

As we understand to incorporate Public Company minimum number of 7 member(s) are required.I wanted to know whether Is it legally possible that 1 shareholder serves as trustee for the other 6 shareholders in the Public Company.

Regards,
RK

Can a person holding preference share/s be appointed as the statutory auditor of the company? Please provide reasons for your answer

According to Section 226(3)(e) a person who holds any security of the company cannot be appointed as the auditor where security has been defined as an instrument carrying voting rights. Now my question is

Whether a person holding preference share/s in a company can be appointed as the statutory auditor of the Company?

In my view a person holding preference share/s shall not be appointed as the statutory auditor since preference shares also carries voting rights in the matters affecting them. Moreover, if preference dividend is in arrears for a continuous period of two years in respect of cumulative preference shares, the holder will get a right to vote in the meetings in respect of all matters.

Is it compulsory for a partnership firm (The firm is subject to tax audit)to file its return electronically ? Or whether return filed manually would be accepted ?

A Company is in the business of letting of property for commercial use.A relative of one of the Director intends to start a trading business at one of the properties owned by the Company and pay rent as a percentage of turnover.Can the Company avoid service tax libility by accepting rent as a percentage of turnover ? What about the TDS implications ?

Present UPA government fails to bring any major reform which can further accelerate the growth rate of Indian Economy . So can our Present high growth rate be sustainable in long term ?Can we dream to achieve double digit growth rate Like china?

how to distinguish between 194C &194J while deducting tds on advertisement?refer some cases & web site to explore more.

Can hotel industry eligible for claiming additional depreciation under IT act

sir i need check list of hotel industries