Remunaration to independent director
This query is : Open
12 June 2014
Our company going to appoint Independent Director, and I want to know that limits up to which we can pay him remuneration.
and definition of Remuneration.
and definition of Remuneration.
12 June 2014
Hello Sir,
As per section 149(9) company will pay independent director only following:
1. Sitting fees as per section 197(5)
2. Reimbusrsment of Expenses
3. Profit related commission only with approval with approval of member.
So Independent director cant get any remuneration.
Remuneration: as defined under Section 2 (78)and includes reimbursment of any direct taxes to the manerial personal.
As per section 149(9) company will pay independent director only following:
1. Sitting fees as per section 197(5)
2. Reimbusrsment of Expenses
3. Profit related commission only with approval with approval of member.
So Independent director cant get any remuneration.
Remuneration: as defined under Section 2 (78)and includes reimbursment of any direct taxes to the manerial personal.
12 June 2014
Thank you for valuable reply
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Banking Related Issue
- Traces submitting correction statement error
- ITR-Capital Gain
- ITR-3 File/Error Found
- Rent claimed on building given on permissive possession basis
- IT returns for fresh job holders
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
