19 October 2008
Sir, I have a problem regarding treatment of Managerial Remuneration u/s 387 of Companies Act. I am totally confused regarding treatment of the following items because differrent books showed different treatments :-
1. Political contribution u/s 293 of Companies Act.
2. Profit/loss on sale on Fixed assets including Investments. If short term capital gain/loss figure shows different amount what will be the procedure?
3. Past accumulated losses.
4. Major Repairs to fixed assets.
Your kind action in favour of me is highly solicited.
you dont confuse at all....first dont see any book...
now you go to companies act 1956 book and see schedule xiii and managerial remuneration. for that nearly 50-60 items are to be adjusted to the Net profit of the company. follow that and adjust the above items....
CAclubindia
