Director Remuneration in pvt co

This query is : Resolved 

03 March 2008 Assessee is a director in a private ltd co.Now what is the extent to which the comany can pay the remuneration to the director.Is there any maximum limit.

03 March 2008 no bijay there r no boundation to Private Co. to pay remunaration to directors.

04 March 2008 Companies Act,1956 poses many restrictions on public company as compare to private company. Sec. 198,350 and other applicable provisions along with Schedule XIII related to Restrictions on Director's Remuneration are applicable only to Public Company. Hence, a Private Company can pay any amount of Remuneration to its Director provided the company should have a provision in its article regarding payment of Director's Remuneration


04 March 2008 PRIVATE COMPANY CAN PAY ANY SUM AS REMUNERATION TO DIRECTORS

04 March 2008 There is no restriction on remuneration to a director but it has to be approved by the board of directors before such payment.



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