managerial calculation 1
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 September 2010
Example Co has profit Rs 80 mn, remu paid to director is 4.8 mn.
5% of profit is Rs 4mn so he has exceeded part I limits , he automatically falls in part II limit, as per schedule XIII limits say Comapny's effective capital is above 100 crores so then he is allowed to be given 4.8 mn per year right, then no excess remu?
5% of profit is Rs 4mn so he has exceeded part I limits , he automatically falls in part II limit, as per schedule XIII limits say Comapny's effective capital is above 100 crores so then he is allowed to be given 4.8 mn per year right, then no excess remu?
Ajay Mishra
(Expert)
03 September 2010
Dear Friend
If your company’s effective capital is 1 crore but less than Rs. 5 crores, company can pay monthly remuneration up to Rs. 2 lakh to its managerial personnel in accordance with the provisions of Clause B of Section II of Part II of Schedule XIII of the Companies Act, 1956.
Regards
CS Ajay Mishra
If your company’s effective capital is 1 crore but less than Rs. 5 crores, company can pay monthly remuneration up to Rs. 2 lakh to its managerial personnel in accordance with the provisions of Clause B of Section II of Part II of Schedule XIII of the Companies Act, 1956.
Regards
CS Ajay Mishra
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
- EPF ECR NEW FILE SEP 17TH 2026
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- GST on Renting godown to KFCSC for Storage of Raagi
- TAX AUDIT ON PROFESSIONAL INCOME
- TDS on Fixed Assets purchased
- Capitalgain tax purposes for valuation report compulsory
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Oct 2025 Invoices
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
