Office of place of profit for relative of director
This query is : Resolved
04 April 2012
Dear Members,
Please provide your view...
Whether Consultancy fees of Rs. 300000 per month paid to relative of Director comes under section 314 (1B) of Companies Act, 1956.
Dear Members,
Please provide your view...
Whether Consultancy fees of Rs. 300000 per month paid to relative of Director comes under section 314 (1B) of Companies Act, 1956.
05 April 2012
Hi
When a director, his partner or relative rendering services of professional nature is engaged on regular retainer ship basis in the company on a remuneration fixed in advance, provisions of section 314 is attract. However, if he is consulted not on retainer ship basis but only occasionally, the section is not attract. {Circular No. 14/75 dated 5th June 1975}.
Regards
When a director, his partner or relative rendering services of professional nature is engaged on regular retainer ship basis in the company on a remuneration fixed in advance, provisions of section 314 is attract. However, if he is consulted not on retainer ship basis but only occasionally, the section is not attract. {Circular No. 14/75 dated 5th June 1975}.
Regards
05 April 2012
Thanks Sir for your reply....
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