314 query

In reference to your query, this is to inform you that as such in the discussed notification, wherein the limit of Rs. 50000 has been enhanced to Rs. 250000 per month, the changes were made only in the Director's Relatives (Office or place of Profit) Rules, 2003.

Therefore, any appointment of the relative may be made by only Special Resolution upto the salary of Rs. 2.5 Lacs per month.

However, in case of directors you may pay him professional fees. However, it would fall under section 314(1). In this regard you need to obtain Central Government Approval in case the remuneration exceeding Rs. 50000 per month. Otherwise only Special Resolution would suffice the purpose if the remuneration ranges within the limit of Rs. 50000 per month.

Such notification is also attached herewith for your ready reference.

Thankyou Ankur Sir for your prompt, short and to the point reply.

Actually i was confused and you have cleared the topic.

Dear 'Corporate Professional'

Is your real name Ankur Srivastava ?

Ankur Sir is my Teacher cum boss...

But what is the reason of this question.....

Ah ! Don't take any offense dear, I was just curious that how can this seemingly complex question be answered along with an attachment in just 4 minutes !

Also nice to know that you have developed such an amount of respect for Ankur Sir in just 1 day of membership !

By the way what's your real name ?

I know him before registering myself to this portal. Actually he adviced me to join caclub india to sharpen my knowledge...Even he himself done my registration...

This is Shashank Agarwal here.. will change details as soon as i edit my profile....

Are you the moderator of this site...??

Excellent ! But being a CA club member himself, why he did not register you with your real name ? This is a good practice used by our esteemed members. And since he is your boss, then what is the need to use this forum. I mean, why don't you go to his room and ask questions? Please do not take any offence as this is just a friendly talk.

great then i have a problem whenever i post any reply an error message comes and i have to repost my reply....

Ankur sharma, you have been assigned the responsibility of the moderator and you are asking what is the need to join caclub... i think you should tell me additional benefits why i should join the forum...

Anyways i joined the forum to sharpen my knowledge and to learn and share.

You see our club members have increased and because of this, there is lot of  traffic jam due to flooding of messages. But we will solve this problem soon by talking with an IT wallah. But why don't you reply my query ?

It 's great that you have joined our club. Welcome to our family ! But don't you think that it is silly to use forum of CCI to ask questions to your boss !