Remunaration to independent director
This query is : Open
Anamit Babar
(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.
and definition of Remuneration.
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.
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.
Anamit Babar
(Querist)
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
- Reward for festival
- 18% Rent a cab
- Movement of goods by packers and movers - type of sale - Reg.
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Gst credit note by supplier
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Appointment of Auditor By Form ADT-1
- TDS Return Statement Status
- Rectification under processing even after 6 months cpc portal
- Closer of business and itc of capital goods
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
