Direcotr remuneration
This query is : Resolved
10 May 2012
WHAT IS THE MAXIMUM LIMIT OF DIRECTOR REMUNERATION PAYABLE FOR THE YEAR UNDER COMPANIES AND INCOME TAX ACT ?
10 May 2012
Please refer Section 198 of Companies Act in which maximum Managerial Remuneration has been prescribed at 11 % of the Net Profit of the company.
.
In Income Tax Act, there exist no such restrictions or limit.
.
.
In Income Tax Act, there exist no such restrictions or limit.
.
10 May 2012
Yes. As per Companies Act, limit is 11% of net profit and no limit presribed in IT act.
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