Non resident directors' remmuneration under fema
paresh zatakia
(Querist) 21 June 2016
This query is : Resolved
Dear Collegues,
querry:
TTI (Indian company) is 100% subsidiary of TTE (Italian company)
Mr.M (Italian citizen staying in Italy) is a director in both the companies.
He sits in Italy, takes all major decision sitting over there ( He Comes to India only for
2-3 days in a year).
He want TTI to pay directorship salary/remuneration.
Querry:
1)Is there any bar in making payment of salary to him under FEMA?
kind regards
c.a.paresh zatakia
R.K Nanda
(Expert) 21 June 2016
Contact Fema lawyer.
T. Kalaiselvan, Advocate
(Expert) 25 June 2016
The payment or remuneration details might have been chalked out in the agreement itself appointing him or while engaging his services, so you may refer the conditions for further details.
