HI,
I HAVE A PVT LTD COMPANY AND I HAVE A PART TIME DIRECTOR,U.K. CITIZEN WITH DUAL CITIZENSHIP OF INDIA, WITH SHARES OF 90%. DOES INCOME TAX AS WELL AS COMPANIES ACT 1956 ALLOW THE REMUNERATION OF SUCH DIRECTOR (IF YES UPTO WHAT EXTENT)?
Menu
DIRECTORS REMUNERATION
Replies (2)
Hi,
Strict provisions relating to remuneration of directors are not applicable to a private company. So there is no need to worry as far as payment of remuneration by a private company is concerned. However check your articles for any kind of restriction on remuneration.
Best Regards
If your UK Director is 'Non resident Indian', you can pay remunration to him in India Rupee only as per RBI Circular.
Suresh S.
Cs, LL.m
Recent Threads
- Negative Export Value in GSTR 3B
- Income tax intimation -AY 24-25
- Tax Implications of Alumni Union (R) under Society
- Heard & Seen Around – Your Daily Economi
- Purchase and sales of Shares entry in Tally
- Where to know latest GST HSN Codes and their Rates
- Hsn code and rate cnsl crude oil
- Clarification required on taxation of income from
- Pension Income up to Rs.1,66,250 per month equal t
- Reappointment of Managing Director in a private li
Related Threads
CAclubindia
