Can director waive rent of office to be receivable by compan

Pvt ltd 522 views 2 replies
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137 Points Joined March 2009

Can Director waive rent of office to be receivable by company?

our company is pvt ltd company. and premises are owned by director who has permitted through simple rent agreement to run company on rent. now can director waive his right to receive rent from company.

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On 23 May 2013 at 11:57 Report
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Registered independent director Past Ch
8229 Points Joined March 2007
Yes, he can. However, ITO may add notional income in his assessment. Further, agreement without consideration may not be enforceable under Contract Act, which should be kept in mind.
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On 23 May 2013 at 16:04
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137 Points Joined March 2009

 

do it make any defer if rent agreement is notarized 'Before Me'

can director waive rent by passing board resolution in meeting ?

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On 23 May 2013 at 17:07


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