s.314
This query is : Resolved
21 May 2009
Mr. A (director), mr.B (employee-Regional mgr - Salary Rs.15Lacs P.A), Mr.C (employee - Quality control head Salary Rs.12Lacs P.A) all are brothers whether section 314 attracted if yes what are the compliances & escape route if any
22 May 2009
Yes in ur case sec-314(1B) is applicable which means you have to obtain prior approval of Shareholders in general meeting along with Central Govt. approval as per O or POP rules.
Central Govt. approval is required as remuneration of Mr. B & Mr. C who are relative of director is more then Rs. 50000 P.M.
Revert if there is any doubt.
Regards
Central Govt. approval is required as remuneration of Mr. B & Mr. C who are relative of director is more then Rs. 50000 P.M.
Revert if there is any doubt.
Regards
22 May 2009
There is no escape route available.
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- GST ON DAMAGED GOODS
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
