Please explain proviso of 149(3).
With example of proportionate basis.
Every company shall have at least one director who stay in India for total period of not less than 182 days during the financial year.
Provided that in case of newly incorporated company the requirements under this subsection shall apply proportionately at the end of financial year in which it is incorporated.
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residents director
Replies (2)
u have to divide 182 by 365 0r 366 days and multiply by 30
to calculate the actual days stay in India.
approximately 15 days in one month.
ex.
if ur company incorporated in January
then one director must be stayed in India for minimum 45 days...
to calculate the actual days stay in India.
approximately 15 days in one month.
ex.
if ur company incorporated in January
then one director must be stayed in India for minimum 45 days...
I think your answer is not proper, read financial year definitions u/s 2(42). If company incorporate in April than year is 11 moths if company incorporate in January than years total months is 14. I think this is interpretation of section 2(42).
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