Payment of professional fees to the director of private co.
This query is : Resolved
Kinjal Pradip Sheth
(Querist)
15 April 2009
A private company pays only professional fees to the director. No other managerial remuneration is paid.
Is it allowed under companies act?
Is it allowed under companies act?
CS Vivek Hegde
(Expert)
15 April 2009
Kinjal
There is no mandatory requirement to pay the remuneration under the Act. If it is paid the provisions of the Act become applicable..
If the professional fee is paid to a director that should be treted as MR if he is a managerial personnel as per the Act.
Vivek
There is no mandatory requirement to pay the remuneration under the Act. If it is paid the provisions of the Act become applicable..
If the professional fee is paid to a director that should be treted as MR if he is a managerial personnel as per the Act.
Vivek
21 April 2009
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