Chartered accountant in practice as a director
This query is : Resolved
Sakshi Gupta
(Querist)
08 December 2014
Can a Practicing Chartered Accountant be a Director in a company? If yes, Can he be a whole time director and take part in day-to-day activities of the company? Can he be remunerated for the same?
08 December 2014
1) Yes.
2) Can't be a WTD. Instead can be a 'director simplicitor'.
3) Can't be remunerated.
2) Can't be a WTD. Instead can be a 'director simplicitor'.
3) Can't be remunerated.
CS Mitesh Mehta
(Expert)
08 December 2014
Yes. a member in practice is permitted generally to be a Director Simplicitor in a company provided he is not a Managing Director or Wholetime Director and is required only in the Board Meetings of the company and not paid any remuneration except for attending such meetings.
Yes. a member in practice is permitted generally to be a Director Simplicitor in a company provided he is not a Managing Director or Wholetime Director and is required only in the Board Meetings of the company and not paid any remuneration except for attending such meetings.
Rupesh Jain
(Expert)
09 December 2014
he can appoint the director ,but he cannot take MD seat and not to take remuneration.
10 December 2014
moreover, he/She has to give this information to ICAI in the matter of such appointment
10 December 2014
only earning what is allowed is sitting fees for attending meetings
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
