Sch-V of companies Act 2013
This query is : Resolved
02 March 2017
dear experts,
whether Sch-V is applicable to private company to remuneration to directors.??
03 March 2017
Schedule V is partly applicable to private companies (i.e. in relation to Part I that deals with appointment) and partly not applicable to private companies (i.e. Part II that deals with remuneration)
Message likes :
2 times
03 March 2017
schedule V completely not applicable to private company...... part I was applicable previously.. but MCA on 5th June 2015 exempted 196(4)&196(5)./.. to private companies. .and as per ur query.... remuneration (part II) not applicable
Message likes :
2 times
04 March 2017
Although section 196(4) has been exempt for private companies, yet Rule 8 of Companies (Meetings of Board and its Powers) Rules, 2014 still requires appointment of KMP to be approved at a board meeting. Further section 117(3)
also requires MGT-14 also to be filed for any resolution of the board of director approving the appointment of managing director. Further, considering the position held by managerial person in a company, it is advisable that the appointment of managerial person should be sought at a board meeting
also requires MGT-14 also to be filed for any resolution of the board of director approving the appointment of managing director. Further, considering the position held by managerial person in a company, it is advisable that the appointment of managerial person should be sought at a board meeting
Message likes :
2 times
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
