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Payment of professional fees to the director of private co.

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(Querist)
15 April 2009 A private company pays only professional fees to the director. No other managerial remuneration is paid.

Is it allowed under companies act?
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CS Vivek Hegde

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CS Vivek Hegde (Expert)
15 April 2009 Kinjal

There is no mandatory requirement to pay the remuneration under the Act. If it is paid the provisions of the Act become applicable..

If the professional fee is paid to a director that should be treted as MR if he is a managerial personnel as per the Act.

Vivek
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
21 April 2009 i support
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