Director remuneration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2012
A private limited company having 2 Directors. They decided to take remuneration 15 lacks for F.Y. 11-12. Company turnover for year 11-12 is around 5 Core. Last year they had taken 5 lack remuneration each director. Please guide about above subject as per company act and Income tax act?
27 March 2012
Hi
In case of private company, the provision of remuneration to directors of the Companies Act will not apply. The remuneration to directors of private company will govern by its articles.
You can pay any amount to your directors as remunerations.
Regards
In case of private company, the provision of remuneration to directors of the Companies Act will not apply. The remuneration to directors of private company will govern by its articles.
You can pay any amount to your directors as remunerations.
Regards
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