Can a director take advance salary from the private limited company equal to six months salary? Do we need to any specific compliance for the same in mca?
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Please share if any draft format in Excel for Calculation.
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Now in a Public Company, a person is appointed as Executive Director. He is not designated as Whole time Director. But as per Rule 2(k) of Chapter 1, Executive Director means Whole time Director. So due to this definition, he becomes WTD the moment he is appointed as Executive Director.
But is proposed to appoint him as Executive Director in other group companies. However, Section 204 prohibits appointment as WTD in more than 1 Company. So he will have to be appointed as Non Executive in other companies. So he cannot draw salary in other companies. And he is running the other companies also. So how can he be Non Executive? I am unable to decide what is the best solution. Please revert.
Can we pay salary to Non Executive Director?
Dear Colleagues,
Is it necessary to pass a board resolution for payment of salary to a director of private company. The director is on the payroll of the Company and he is executive director. According to my opinion the sections relating to managerial remuneration are applicable to public companies and private companies. So there is no need to pass a resolution for payment of salary to executive director of private company.
Dear Members,
Please explain me with the provisions of Income Tax Act and Finance Act, whether TDS is applicable on Salary payable to a Non Resident Indian who is providing services to Indian Company for their work outside India (He never come to India)??
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Hi All, Will salary paid from foreign subsidiary Co. to relatives (resident of foreign country) of Directors of Indian Holding Co. covered under section 188 (1) (f) of Companies Act, 2013. There is no direct agreement between Indian Holding Co. and these relatives. Employment agreement from subsidiary Co.
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In case the company has appointed personnel exclusively for implementing the CSR activities of the company, can the expenditure incurred towards such personnel in terms of staff cost etc. be included in the expenditure earmarked for CSR activities?
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