TMI BlogDirector’s Relative (Office or Place of Profit) Rules, 2011.X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Companies Act, 1956 , the Central Government hereby makes the following Rules in supersession of the earlier Notification No. G.S.R. 89(E), dated 5-2-2003, namely: Short Title and Commencement 1. (1) These rules may be called Director s Relative (Office or Place of Profit) Rules, 2011. (2) They shall come into force on the date of their publication in the Official Gazette. Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd is appointed as an Advisor or Consultant and paid remuneration including commission on periodical basis. 4. Selection of Relatives of Directors and Directors to Hold a Place of Office/Profit: ( a ) The selection and appointment of a relative of a Director for holding office or place of profit in the company with a salary exceeding Rs. 2,50,000 per month shall be approved by adopting t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anies Act, 1956: ( a ) In the case of individual appointee, an undertaking from him that he/she will be in the exclusive employment of the company and will hold a place of profit in any other company. ( b ) The monetary value of all allowances and perquisites and of total remuneration package (monthly/annually) proposed to be paid to the appointee and details of the services that will b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er of relatives of all the Directors either appointed as Manager/Whole time Director, Manager or in any other position in the company, the total remuneration paid to all of them altogether as a percentage of profit as calculated for the purpose of section 198 of the Companies Act, 1956 . - Notification Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
