Scedule XIII of the companies Act
This query is : Resolved
13 April 2010
Dear Friends
My Query is that Schedule XIII remuneration can be paid to part time Directors, if the company has no profit?
The Remuneration limit prescribed in Schdule XIII is per director or for overall directors?
Regards
Sanjay Srivastava
My Query is that Schedule XIII remuneration can be paid to part time Directors, if the company has no profit?
The Remuneration limit prescribed in Schdule XIII is per director or for overall directors?
Regards
Sanjay Srivastava
13 April 2010
1. As per my opinion facility of schedule XIII in case of no profit or inadequate profit is available to managerial personnel only. Check the language of part II section II of schedule XIII.
Hence part time directors or ordinary directors can not draw any remuneration in case company has no profits.
2. The Remuneration limit prescribed in Schedule XIII is per director. Check the language of section II of part II.
To be honest am not very confident about point no. 1 so wait for other opinions.
Hence part time directors or ordinary directors can not draw any remuneration in case company has no profits.
2. The Remuneration limit prescribed in Schedule XIII is per director. Check the language of section II of part II.
To be honest am not very confident about point no. 1 so wait for other opinions.
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- SALE BILL AGAINST GOODS RETURN
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E way bill for tractors
- Specified Profession
- STCG on ETF gold & silver
- TAN for Partnership
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- 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
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
