banner_ad

Office of Place of profit

This query is : Resolved 
Profile Image

Profile Image

(Querist)
07 June 2011 Dear Sirs

During the financial year 2010-11 a private limited company had paid monthly remuneration of Rs.15000/- to a relative of a director. The said remuneration was approved by the Board in March 2010. Approvoal of the Members of the Company was also obtained at the AGM held on 30.09.2010 by way of special resolution.

It is now proposed to increase the remuneration from Rs.15000/- to Rs.50000/-.

Kindly advise whether the company can pay Rs.50000/- as monthly remuneration to the relative of a director.

Kindly advise the procedures to be followed by the company in this regard

with regards

Muralidharan
Profile Image

CA Sumat Singhal

Profile Image

CA Sumat Singhal (Expert)
07 June 2011 The company can pay remuneration upto RS 50000 without following any extra procedure as company has already passed special resolution...refer sec 314(1B)
if remuneration exceeds Rs 50000 then follow Directors' Relatives (office or place of profit) Rules, 2003..
Sumat Singhal,Indore
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details