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COMMISSION

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(Querist)
30 April 2010 Can a subsi company pay commission to holding company on the business arranged by him.The company has common directors.

Whether section 297 will be attracted?
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Vikram Kothari

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Vikram Kothari (Expert)
11 May 2010 Let me know whether both companies are Public Co. or Pvt. Co.?

Section 297 will not be applicable on both companies(Holding & Subsidiary) if both companies are Public Co.

Section 297 will not be applicable if other co. is a Pub. Co..

Section 297 is also not applicable on 'Contract for rendering professional services.' Please elaborate your question so that proper answer can be given.
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Mamta Batra

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Mamta Batra (Querist)
11 May 2010 Hi Vikram

Both the companies are pvt comapanies and are in publication sector.
Commission is paid to the holding company on the business which is arranged by the holding company in favour of subsi company.
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