Sitting Fees

Sushant Panigrahi (Querist) 28 July 2008 This query is : Resolved
what is maximum admissible sitting fees as per the Act.
Whether it include Travelling Expenses,
Whether the same is for per Metting
For Eg if Audit Committee and Board Meeting is held at once the what will be the maximum admissible sitting fees

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Guest (Expert) 28 July 2008
Sitting fees doesnot include travelling expenses.
The sitting fees is per meeting.

Maximum sitting fees is Rs.20,000 per meeting.

For the Boardmeeting and Audit committee held on same day, the fees is per meeting.

SANJAY DIXIT (Expert) 28 July 2008
The limit of max Rs 20,000 per meeting is for the Companies with a paid-up share capital and free reserves of Rs 10 crore and above or turnover of Rs 50 crore and above.
For other companies maximum sitting fees is Rs. 10,000 per meeting.

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