https://www.taxtmi.com/acts?id=31717 Amendment revises director residency and independence criteria under section 149: mandates a resident director for a specified portion of the financial year with proportional application for new companies; clarifies that routine remuneration or limited transactions below prescribed thresholds do not disqualify independence; sets permissible caps on relatives' holdings, indebtedness, guarantees and other pecuniary transactions with the company or its group; and excepts certain prior employment of a relative from the disqualification test. en-us Thu, 04 Jan 2018 18:44:00 +0530 Thu, 04 Jan 2018 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31717 Amendment revises director residency and independence criteria under section 149: mandates a resident director for a specified portion of the financial year with proportional application for new companies; clarifies that routine remuneration or limited transactions below prescribed thresholds do not disqualify independence; sets permissible caps on relatives' holdings, indebtedness, guarantees and other pecuniary transactions with the company or its group; and excepts certain prior employment of a relative from the disqualification test. Act-Rules F. Acts / Amendment Acts Thu, 04 Jan 2018 18:44:00 +0530 https://www.taxtmi.com/acts?id=31717