Mr. X (Technical person) was appointed as CEO in 2008 and was paid Rs. x professional fees. In Jan 2010 he became directors in that company. Whether he can still received professional fees ? or payment to him should be director's remunaration.
Bimal Thacker (Proprietor) (762 Points)
25 May 2010Mr. X (Technical person) was appointed as CEO in 2008 and was paid Rs. x professional fees. In Jan 2010 he became directors in that company. Whether he can still received professional fees ? or payment to him should be director's remunaration.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 25 May 2010
if he is providing something extra than his duty and which can be classified as professional services then he can get professional fees as well. But directors remuneration is also considered as professional fees if it is not paid as monthly salary.
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