Sitting fees to a non-executive directors
This query is : Open
TARIQUE RIZVI
(Querist)
07 May 2015
Dear Sir,
I have come to know that, per Meeting we can pay minimum Rs 1,00,000/= on account of sitting fees to a Non-Executive Director. It means that a sum of Rs 4,00,000/= yearly can be paid to a non-executive directors of a private limited company. 10% TDS shall be deducted u/s 194-J.
Sir Am I right ?
Dear Sir,
I have come to know that, per Meeting we can pay minimum Rs 1,00,000/= on account of sitting fees to a Non-Executive Director. It means that a sum of Rs 4,00,000/= yearly can be paid to a non-executive directors of a private limited company. 10% TDS shall be deducted u/s 194-J.
Sir Am I right ?
CS Adnan Shaikh
(Expert)
08 May 2015
1,00,000 is the maximum limit. Refer Clause 4 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
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