Director
This query is : Resolved
03 December 2014
Practicing Chartered Accountant eligible to director or not ? please guide me
24 December 2014
A member in practice shall be permitted to be a Director (Director Simplicitor),Promoter/Promoter Director, Subscriber to the Memorandum and Articles of Association of any company including a Board Managed Company.
DirectorSimplicitor:
(i) the expression 'Director Simplicitor shall be used for an ordinary/simple Director, who fulfills
the following conditions :
(a) he is required to attend the Board meetings only.
(b) He will not be paid any remuneration except the sitting fees for attending the Board meetings; and
(c) He will be devoting his time for the company only to attend Board meetings and not for any
other purpose.
(ii) A member in practice is permitted generally to be a Director Simplicitor in any Company including a Board-Managed Company and as such he is not required to obtain any specific permission of the Council in this behalf irrespective of whether he and/or his relatives hold substantial interest in that Company
DirectorSimplicitor:
(i) the expression 'Director Simplicitor shall be used for an ordinary/simple Director, who fulfills
the following conditions :
(a) he is required to attend the Board meetings only.
(b) He will not be paid any remuneration except the sitting fees for attending the Board meetings; and
(c) He will be devoting his time for the company only to attend Board meetings and not for any
other purpose.
(ii) A member in practice is permitted generally to be a Director Simplicitor in any Company including a Board-Managed Company and as such he is not required to obtain any specific permission of the Council in this behalf irrespective of whether he and/or his relatives hold substantial interest in that Company
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
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Experts need help
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
