Executive director v/s consultant
Querist : Anonymous
If a director of the company is working as a adviser to the company and is paid remuneration by way of monthly salary, his salary will be included in the 11% managerial remuneration.So you can pay him as director remuneration and not as consultancy fee.
Remuneration for professional services rendered by a director:
Proviso of section 309(1) excludes any remuneration for professional services rendered by a director, provided that the director possesses requisite professional qualification for practicing the profession in respect of which they render special services. It is immaterial, whether the professional fees, which are paid to him is on a monthly basis or on a case to case basis. [Stup Consultants Ltd. v Union of India].
Querist : Anonymous
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