Remuneration on conversion of a private co to public co
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 October 2010
A private company has converted into a public company. The Company is a loss making company and Prior to conversion it was paying remuneration to Managing Director in excess of limits specified u/s 198+Sch XIII.
My query is, whether it can pay same remuneration after conversion without obtaining Central Government approval.
My query is, whether it can pay same remuneration after conversion without obtaining Central Government approval.
05 November 2010
No, after conversion the remuneraion has to be paid in Limits of Schedule XIII. Payment of excess remuneration woul definately require Central Government Approvl
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
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- NON- SUBMISSION OF LLP FORM 3
- Last year TDS Claim
- Free lancer income
- Capital Gain on EUITY Shares
- 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
- 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
