pankaj kumar gupta (CA Practice ) (24 Points)
07 December 2013
GAUTAM SHARMA
(Audit Assistant)
(343 Points)
Replied 07 December 2013
No limit for Private Company in IT Act 1961 or Companies Act
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17833 Points)
Replied 07 December 2013
In case of private limited company the provisions of remunerations are not applicable. The Company may by way of board resolution fix any remuneration to its diretors.
CS MOHIT SALUJA
(PRACTICING CS Jalandhar 9914558709)
(5155 Points)
Replied 08 December 2013
However, a company may/ may not file Form 23 to ROC by passing of resolution of payment of managerial remuneration in board meeting.
aarav
(student)
(26 Points)
Replied 09 December 2013
sharad
(director)
(57 Points)
Replied 09 December 2013
There is a confusion here.
Since Directors are inttd parties, & they r holding office of profit. So a special resolution in EOGM is better, which requires its own formalities & filing of resoln with the RoC.
Another opinion is that special resoln is NOT reqd for Whole Time Directors !
I seek clarification on the correct proceedure & relevant section / article / case law
Ajay Mishra
(Company Secretary)
(74322 Points)
Replied 09 December 2013
Mr. Shard.....
Read your company articles on it.
ulhas
(accounts manager)
(27 Points)
Replied 29 December 2021
anyone can describe, Please!!!!
can income tax raise query about high remuneration paid to pvt ltd directors upto 80% to 90% of high profit in specific year on the ground that director should have to take Dividend instead of Remuneration ? is there any limitation on remuneration and is there any compulsion to issue the dividend in the case of HIGH profit ?
CAclubindia
