dear knowledgeable persons,
1. if one MD,whole time director , Manager means not exceeding 5% of net profits.....
2.if two or more of above persons not exceeding 10% of net profits..
3.for non executive persons
if they are nor MD whole time director Manager 3%
if they are means 1%
it is correct or not about section 197 managerial remuneration please explain me
1 director- 5%
More than 1 director- 10%
Max- 11%
For dummy directors like consultants who don't participate- 1%
In the absence of real managing director, dummy directors- 3%
CAclubindia
