Urgent ..explanation required

can u tell me in co act 2013 u/s 149 the turnover or total income is of relative or company none of whose relatives has or had pecuniary relationship or transaction with the company, its holding, subsidiary or associate company, or their promoters, or directors, amounting to two per cent. or more of its gross turnover or total income or fifty lakh rupees or such higher amount as may be prescribed, whichever is lower, during the two immediately preceding financial years or during the current financial year;
Replies (1)

The given sec. is about independent director's meaning. Amonst one of its points, one point states that  (1)  none of whose relatives has or had pecuniary relation or transaction with the company in which the person is proposed to be appointed as director......................................................the limits given is 2% or more of its GTO / Total income / Rs. 50 lakhs or such amt as may be prescribed whichever is lower during 2 preceeding F.Y

so it is clearly evident that the limit given is of the compnay and not relative

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
29 September 2026
Work at home

Lottery.sambad.tv

Bhopal

Others

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details