Payment of Director Fees in Private Limited Company
This query is : Resolved
Nandlal Jaiswar
(Querist)
22 December 2010
Dear All,
There's a Private Limited Company in business of creating Painting and Art Work and it's Director is the Sole Artist who makes paintings.Is there any limit in payment to Director Fees u\s 314 of Income Tax,1956 ? Or any regulation of payment of Fees.Please Reply me.........
There's a Private Limited Company in business of creating Painting and Art Work and it's Director is the Sole Artist who makes paintings.Is there any limit in payment to Director Fees u\s 314 of Income Tax,1956 ? Or any regulation of payment of Fees.Please Reply me.........
Ajay Mishra
(Expert)
23 December 2010
Hi
I think, payment of Director's fee is governed by Companies Act, 1956 and in case of private company the provisions of remuneration and sitting fee will not apply.
Regards
I think, payment of Director's fee is governed by Companies Act, 1956 and in case of private company the provisions of remuneration and sitting fee will not apply.
Regards
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