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)?
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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
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