directors'remuneration

This query is : Resolved

surendra bhutoria (Querist)
Follow

18 May 2009 do we have to take any approval if the directors voluntarily reduce their salary with effect from 01.04.2008 and refund the excess salary recieved thus far

surendra bhutoria

CA.Varun Ranjan

CA.Varun Ranjan (Expert)
Follow

18 May 2009 board resolution is required for this.

Ankur Garg

Ankur Garg (Expert)
Follow

20 May 2009 You need to check the language of resolution in which salary is defined by you.

For example:: if it is mentioned in the reolution that ""up to Rs. 20 Lac per annum"" then in that case no need to pass any resolution if directors voluntarily reduce their salary & draw Rs. 18 Lac per annuam.

Noting of directors voluntarily reduce their salary in the remuneration committee minutes would be a good option.

Regards

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Vishal Kapadiya

Prashant Kotecha

Rajesh

Akash Sawant

JACOB ABRAHAM KURIALANICKAL

Subscribe Now

directors'remuneration

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

Accountant

CA Final

Manager- Finance and Compliance

Senior Executive