Managerial remuneration

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Kamna (Querist)
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13 November 2009 If a director is appointed before the adoption of account in the financial year 2009-10 and his remuneration is attracting Schedule XIII then for the purpose of calculating effective capital, we sould take the balance sheet figures of 2007-08 or 2008-09 as the balance sheet for 2008-09 was not audited as on the date of appointment of the director.
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CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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13 November 2009 for calculation of effective capital balance sheet for 2008-09 will be taken. i n Act their is no requirement of Audited B/S.

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