directors remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 January 2010
Can a practicing chartered accountant who is a non executive director draw remuneration from that private company.
28 January 2010
Yes
28 January 2010
No.
A member in practice shall be permitted to be a Director (Director Simplicitor), of any company including a Board
Managed Company.
(a) Director Simplicitor:
(i) the expression 'Director Simplicitor1 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.
A member in practice shall be permitted to be a Director (Director Simplicitor), of any company including a Board
Managed Company.
(a) Director Simplicitor:
(i) the expression 'Director Simplicitor1 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.
28 January 2010
no
29 January 2010
No
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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- Dep. as per companies act
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Applicability of GST on Salary Reimbursement Component
- GST ISSUE OF INPUT AND OUTPUT GST
- Tax rate change regarding
- UDIN ISSUE
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- 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
