Direstor's salary
This query is : Resolved
Guest
Guest
(Querist)
16 October 2010
Sir plz tell me how the director's salary is governed in case of pvt' ltd.co. ?
16 October 2010
In case of Pvt Ltd company there is no bar on Managerial Remuneration as in Ltd company from Companies Act perspective.
From point of view of Income Tax Act you are required to deduct TDS u/s 192 just like TDs on salary paid to employees.
From point of view of Income Tax Act you are required to deduct TDS u/s 192 just like TDs on salary paid to employees.
17 October 2010
Continuing Gupta Ji, quantum of remuneration / increase in remuneration should be reasonable for example with respect to the nature of business, qulification /expertise of the director etc., otherwise disallowance attracts under the Income tax Act,1961.
18 October 2010
Hi
The provisions of managerial remuneration of Companies Act, 1956 read with Schedule XIII to the Act is not applicable to private company.
The remuneration payable to directors of private company is governed by their own articles.
Regards
The provisions of managerial remuneration of Companies Act, 1956 read with Schedule XIII to the Act is not applicable to private company.
The remuneration payable to directors of private company is governed by their own articles.
Regards
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