Managerial remuneration income tax
This query is : Resolved
08 February 2016
Dear All,
In our public ltd company we are going to give Rs. 60 lac managerial remuneration to our directors but as per limit prescribed in companies act 2013, we can't pay more than 42 lacs.
if central government does not approve our application for above mentioned managerial remuneration in that case we have to take back rs 18 lac from directors.
My query is what if director has already pay tax on above 60 lacs income and filed returned accordingly and not claimed any refund in itr.
In our public ltd company we are going to give Rs. 60 lac managerial remuneration to our directors but as per limit prescribed in companies act 2013, we can't pay more than 42 lacs.
if central government does not approve our application for above mentioned managerial remuneration in that case we have to take back rs 18 lac from directors.
My query is what if director has already pay tax on above 60 lacs income and filed returned accordingly and not claimed any refund in itr.
08 February 2016
then also you have to take it refund from the director, because you have to comply with the provisions of Companies act, 2013
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
