Managerail Remuneration

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2010 Dear All,
I have the following query:

1. A private co wants to allow its directors to use the residentail accomodation owned by the Company free of chages. Would it count as Remuneratrion?

2. for the said premised Public co in which above directors are whole time directors, co pays elecrticit etc charges.

Please let me know the compaliance to be done in this regards.

Ajay Mishra

Ajay Mishra (Expert)

03 September 2010 Dear Friend,

The provisions of remunerations will not apply to private company. A private company is free to pay remuneration and perquisites as it deemed fit.

Regards
CS Ajay Mishra

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2010 Thanks for your reply.

I want to know, while calucation of ceiling of managerial remuneration in public co of WTD, we need to include the the remuneratioin received by Director form other private company.

Ankur Garg

Ankur Garg (Expert)

03 September 2010 No there is no need to include the remuneration received by Director form other private company while calculating the ceiling of managerial remuneration in public co as WTD.

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