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
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