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Part time director

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(Querist)
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?
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srinath

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srinath (Expert)
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
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Parth Maken

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Parth Maken (Querist)
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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