Gazette notification GSR 534(E) dated 14/07/2011-clarification regarding - Employee of a company holding shares of company up to 0.5% of paid up share capital also covered under category of persons not having any interest in capital of company

Gazette notification GSR 534(E) dated 14/07/2011-clarification regarding - Employee of a company holding shares of company up to 0.5% of paid up share capital also covered under category of persons not having any interest in capital of company https://www.taxtmi.com/notifications?id=25073 Employees holding company shares acquired under employee allotment schemes, including Employees' Stock Option Plans or by way of qualification shares, and whose holdings remain within the small prescribed proportion of paid up share capital, are to be treated as persons not having any interest in the capital of the company for purposes of the Ministry's notification. Consequently, such employees fall within the category eligible for the exemption from obtaining Central Government approval for payment of managerial remuneration exceeding statutory limits. en-us Thu, 16 Aug 2012 00:00:00 +0530 Mon, 20 Aug 2012 10:22:00 +0530 TaxTMI RSS Generator Gazette notification GSR 534(E) dated 14/07/2011-clarification regarding - Employee of a company holding shares of company up to 0.5% of paid up share capital also covered under category of persons not having any interest in capital of company https://www.taxtmi.com/notifications?id=25073 Employees holding company shares acquired under employee allotment schemes, including Employees' Stock Option Plans or by way of qualification shares, and whose holdings remain within the small prescribed proportion of paid up share capital, are to be treated as persons not having any interest in the capital of the company for purposes of the Ministry's notification. Consequently, such employees fall within the category eligible for the exemption from obtaining Central Government approval for payment of managerial remuneration exceeding statutory limits. Notifications Companies Law Thu, 16 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/notifications?id=25073