Disclosure in notes to accounts
This query is : Resolved
23 September 2013
Hi,
My query is relating to disclosure in notes to accounts for Managerial Remuneration.
During the year company has paid Rs. 8 lakhs to the director who has resigned in January (During the year ) and a new director has been appointed.
Now in notes to accounts do i need to show the payment made to him during the year.
Company has not paid anything to the new director from January to March.
Thanks... :)
My query is relating to disclosure in notes to accounts for Managerial Remuneration.
During the year company has paid Rs. 8 lakhs to the director who has resigned in January (During the year ) and a new director has been appointed.
Now in notes to accounts do i need to show the payment made to him during the year.
Company has not paid anything to the new director from January to March.
Thanks... :)
23 September 2013
Yes. You need to disclose the same.
23 September 2013
Mr. Nikhil Thanks for your response..
One more thing there is some provision for payment to new director. as Company is facing huge loses.
Whether that provision also need to be disclosed.
One more thing there is some provision for payment to new director. as Company is facing huge loses.
Whether that provision also need to be disclosed.
23 September 2013
Well the salary if has been decided upon, the same needs to be paid. Be guided by norms for limits on managerial remuneration in this regard.
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23 September 2013
Section-II of Part-II of Schedule-XIII deals with Remuneration payable by the Companies having no profits or inadequate Profits
23 September 2013
Thank you very much Nikhil.. I will check that.. :)
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