Hi All,
Can anyone tell me the following in respect of managerial remuneration payable to director:
The company is a private limited company. Whether perquisites / other indirect benefits like car (owned in the name of the pvt ltd company) be disclosed in the notes to accounts?
Is there any legal requirement to disclose.
Regards
Dear Friend
The provisions of managerial remuneration will not apply to private company. In case of notes to account, section 198 deal with managerial remuneration also not apply to private company.
I will suggest you that there is need to give managerial remuneration in notes to account.
Regards
CS Ajay Mishra
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