Part time director

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Parth Maken (Querist)
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22 July 2010 1.) Can a student having a permanent income tax account no. be a part time director in a private limited company?
2.) In addition to salary and director sitting fees what other benifits can he draw from the company?

srinath

srinath (Expert)
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22 July 2010 there is no prohibition for a student in becoming a director provided he has attained the age of 21

he can be paid commision and all the other remuneration which can be paid to the other directors

Parth Maken

Parth Maken (Querist)
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23 July 2010 I think that Companies Act has not specified any qualofication for appointment as a director in a company. However it specifies that a whole time director or a manging director should be in the age bracket of 25 to 70 years. Thus any individual may become an ordinary director whatever his age or qualification.

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