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Remunaration to independent director

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(Querist)
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.
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CS Divesh Goyal

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CS Divesh Goyal (Expert)
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.
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Anamit Babar

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Anamit Babar (Querist)
12 June 2014 Thank you for valuable reply
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