Section 314(1) & 314(1B)
This query is : Resolved
Anil Mittal
(Querist)
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?
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?
16 December 2008
314(1)-- more than Rs 10000/-Approval required.
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
(Expert)
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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