If i need to pay the remuneration to a whole time Director of the Company for the financial year 2010 - 2011, which year's profit should be taken as the base for calculating the amount of remuneration because Section 198 reads as "The managerial remuneration payable by a public company to its director in any financial year shall not exceed 11% of the net profit for that financial year". If based on the Balancesheeet of March 31, 2010 I decide the remuneration and at the end of the year 2010-2011, the Company goes into losses, do i need to recompute the remuneration payable to the Director?

Hi Expert,

Can you please let me know is it possible to book director remuneartion under head Salary & Wages A/c instead of Director Remuneration? below explanation is given by one expert for booking under salary & wages:
1.Director was inducted into board as a professional expert having regards to his Qualification, knowledge, experience, expertise as professional Director, without giving any other substantial power of management, which may be otherwise vested in any CMD, MD, Manager, WTD etc. He has no role in company board more than that. However he has all power more than that of a Sales & Marketing Head (with whatever name called).

2.Kindly appreciate the difference between Director in (a) whole time (or part time) Employment and (b) professional-Employee inducted into the board

Regards
Gaurav

We have an Insurance Policy for special perils which covers Damage directly by flood, recently due to flood (just because of the flood) a few logs/boulders (floating in the flood water) damaged our assets, the Insurance company rejected our claim. Is the Insurance Company correct in doing so? Is there any way in which the claim may be obtained?

How many Compliance Certificate Company Secretary in practice can sign During in Calender year??

Please tell me its urgent....

Can the company insist and take the original certificates from the employee while joining him in their company. if so, what if the employee absconds and joins a new competitor and requests for certificates after few months. Is is permissible to hold the original certificates. If not what is the remedy. What if he gives all the data to the competitor and leaves the company. What action can be taken against him.

Can a Company loan taken from other then it's members / directors. if possible what is requirement.

hello sir,

whether husband can pay PPF of his wife from his bank account.

Can Mr. X (Individual)and Mr. X HUF can together form Partnership Firm?

sir, my mother has a piece of land measuring 4000 sq.ft and she wants to gift the land to me.so please advice what could be the tax liability on the gift of the land to me.

Dear Sir,
Please help me in the following case

A Company filed a copy of advertisement approved by the Board in its meeting held on 31st March, 2009 in connection of with inviting fixed deposits with the concerned Registrar of companies on the 1st April, 2009. it published the said advertisement for the First time on 10th August 2009. is the action of the company valid