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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Loss of interest in PF transfer from EPFO to Trust
- ITR-3 File/Error Found
- TDS offline utility
- Due Date Clarity
- ASMT-10 received from A O
- IT returns for fresh job holders
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
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
