Pvt ltd company sponsoring foreign tour of director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2013
Dear Sir/Madam,
Kindly request you to solve the query to the erliest.
A pvt company has provided a director foreign tour with his family and the company is paying all the expenses. what are the limitations under companies act and how shud be the accounting treatment?
Kindly request you to solve the query to the erliest.
A pvt company has provided a director foreign tour with his family and the company is paying all the expenses. what are the limitations under companies act and how shud be the accounting treatment?
Ajay Mishra
(Expert)
15 June 2013
Hi
The provisions of remuneration of Companies Act, 1956 is not applicable to private limited company. It is totally governed by its company's articles. You are free to pay any remuneration to its directors.
So, heck what your articles says.
The provisions of remuneration of Companies Act, 1956 is not applicable to private limited company. It is totally governed by its company's articles. You are free to pay any remuneration to its directors.
So, heck what your articles says.
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