Managerial remuneration
This query is : Resolved
CA Aman Agarwal
(Querist)
30 June 2010
Should managerial remuneration be calculated by taking net profit after tax or before tax? what is its maxi. limit for Pvt co.?
Aditya Maheshwari
(Expert)
30 June 2010
Section 349 states profit as per P & L a/c and hence should be after tax.
There is no limit of remuneration for PVT. ltd. co. but it should be justifiable according to the scale and nature of operations of the company.
There is no limit of remuneration for PVT. ltd. co. but it should be justifiable according to the scale and nature of operations of the company.
Ankur Garg
(Expert)
01 July 2010
Strict provisions relating to Managerial remuneration are not applicable to a private company so you are free to give any remuneration. But such remuneration should be according to the articles of the company.
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