Directors sitting fees

There is no limit in companies act for sitting fee however articles of association can fix limits

can you please elabarote lit more as i see as per sec 197, sitting fees shall not exceed 1 lakh rupees, and some saying sitting fees can be paid more than 1 lakh also

Company may pay sitting fees to the director as decided by the board but it shall not exceed 1 lakh per board meeting or committee meeting thereof and sitting fees payable to the independent director or women director shall not be less than fees payable to other directors (Appointment and remuneration of MP rules 2014).

no it can not be more than 1 lacs

no it can't be more 1 lakh.

No, it cannot exceed Rs.1 lac as clearly provided in Rule 4 of Companies (Appointment & Remuneration of Managerial Personnel) Rules 2014.

Sitting fees

4. A company may pay a sitting fee to a director for attending meetings of the Board or committees thereof, such sum as may be decided by the Board of directors thereof which shall not exceed one lakh rupees per meeting of the Board or committee thereof:

Provided that for Independent Directors and Women Directors, the sitting fee shall not be less than the sitting fee payable to other directors.

 

Do company have to pay tds and gst on it?

Is it applicable in case of Private Company also? As there are two views on applicability of Section 197 to Private Limited Company (especially when there is loss making / inadequate profit one).