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Direcotr remuneration

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(Querist)
10 May 2012 WHAT IS THE MAXIMUM LIMIT OF DIRECTOR REMUNERATION PAYABLE FOR THE YEAR UNDER COMPANIES AND INCOME TAX ACT ?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
10 May 2012 Please refer Section 198 of Companies Act in which maximum Managerial Remuneration has been prescribed at 11 % of the Net Profit of the company.
.

In Income Tax Act, there exist no such restrictions or limit.
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
10 May 2012 Yes. As per Companies Act, limit is 11% of net profit and no limit presribed in IT act.
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