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?
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
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- TDS related Query_Liquidated Damages
- Long Term Service award taxability in hands of company
- Last year TDS Claim
- NON- SUBMISSION OF LLP FORM 3
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
