can IDs be paid higher sitting fee than Women director and other director.
For example
Max Limit as AOA: 40,000
offered to ID :50,000
offered to women Director:30,000.
whereas maximum limit as per sec 197(5) read with rules is Rs.1 lakh.
Is this higher sitting to IDs is valid in law?
Menu
Sitting fee to Independent Director
Replies (1)
If there is restriction in the articles of association regarding the payment of sitting fees and if the Company wishes to pay the higher amount then the amount mentioned in the articles, then the Company has to amend the articles by passing the Special resolution. And subject to section 197(5), read with the relevant rules, the independent director or woman director shall not be given the sitting less than the other directors but there is no cap on upper limit. Company may pay the sitting fees higher to independent director or woman director then the other director but sitting fees payable to a single director shall not exceed one lakh rupees
Recent Topic
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
Related Topics
CAclubindia
