Section 314(1) & 314(1B)

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Anil Mittal (Querist)
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16 December 2008 Sir,

What is the prescribed limit of remuneratiion u/s 314(1)? is it more than Rs. 10000 or Rs. 10000 or more?

Similarly, u/s 314(1B) : is it more than rs.50000 or Rs. 50000 or more?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 December 2008 314(1)-- more than Rs 10000/-Approval required.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 December 2008 314(1B)--more than Rs.20000/- I stand corrected by virtue of notification GSR 89(E) dt 5/2/2003 ie Rs.20000/- may be read as more than Rs 50000/- Approval is required.

Ravikumar.G

Ravikumar.G (Expert)
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16 December 2008 Relative can hold place of profit without central govt. approval if he is receiving payment lower than Rs.50000 per month

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Section 314(1) & 314(1B)

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