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Retainer fee to Director

This query is : Resolved 
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(Querist)
13 July 2010 Can Director be paid a monthly retainer fee for advisory services rendered
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
13 July 2010 yES,

If Director has professional qualification and practising it and services rendered by him in a professional capacity, then COMPANY can pay retainer ship fee as consulancy service. It will be covered u/s 194J.
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Ankur Garg

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Ankur Garg (Expert)
13 July 2010 YES

But the same would be considered in remuneration limits mentioned in section 309(3) and (4) if you are a public company.

However in case of a private company section 309 not applicable.

Regards
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