Directors remuneration u/s 198 & 199
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 July 2013
Hi
Our company is public limited company. We have paid remuneration to Managing Director more than 20% of company's profit.
Can any one advice that waht will be adverse implication due to this and what steps company should take in future for not viloting sec 198 of the companies act.
Our company is public limited company. We have paid remuneration to Managing Director more than 20% of company's profit.
Can any one advice that waht will be adverse implication due to this and what steps company should take in future for not viloting sec 198 of the companies act.
18 July 2013
Hi
You can not pay remuneration more than 5% to MD without Central Government approval.
So please read section 198 with 309 of the Companies Act, 1956.
You can not pay remuneration more than 5% to MD without Central Government approval.
So please read section 198 with 309 of the Companies Act, 1956.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TWO FIRM NAME IN ONE GST NUMBER
- Section 54 f disallowed will be taxed at what rate
- ITR -1 Filing
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Transfer of rectification rights to ao
- Eway issued more than one
- Transfer of Rectification Rights to the Jurisdictional Assessing Officer
- SEA GOING ALLOWANCE
- TDS whether applicable or not in case of Flat purchase
- IGST Refund pending since June 2022.
- Interest will be paid
- CHANGE IN PARTICULARS OF DIRECTOR
- Procedure and Documents Required for Release of FD from DVAT
- How to rectify gstr1 credit note
- Non- payment of GST on supply of services- reg
- Other party gstin shown on my login id
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Query on TDS Section 194H
- Fees amount transfer procedure for two doctors
Trending Online Classes
CAclubindia
