Director Renumeration to be shown under which head in Profit and Loss A/c in Revised Schedule-VI?
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Director renumeration
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Revised Schedule VI (1956 Act) or Schedule III (2013 Act):
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Statement of Profit and Loss -> Expenses -> Employee benefits expense (aggregate of expenses on the face of P&L) -> Salaries and Wages (additional information – notes)
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For this purpose, directors, engaged under a contract of service should be included and those engaged under a contract for service should be excluded.
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