for the purpose of computing max managerial remuneration i.e. 11% of net profits, net profits shall be taken for current year or previous year? for example - for max remuneration allowed in fy17-18 , net profits of fy 16-17 is relevant or 17-18?
Please explain along with relevant provision
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computation of managerial remuneration in case of adequate profits
Replies (7)
refer to sec 198
Dear Manish sir
it means we have to check at the year end whether total remuneration paid during the year is in compliance of sec 198?
it means we have to check at the year end whether total remuneration paid during the year is in compliance of sec 198?
sry sec 197
A combined reading of both the sections are required to find out the remuneration.
NP of F.Y17-18 as per your example
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