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Managerial Remunration Under Part II of Schedule XIII

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(Querist)
05 May 2010 He guys reply ASAF,
If a MD appointed on F.Y. 2007 for Five years
On F.Y.2010 Of Which Year Effective Capital would be Taken Considration for calculating Remunration Under Section II of Part II of Schedule XIII as loss for current year?
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Jagruti (CS)

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Jagruti (CS) (Expert)
06 May 2010 Effective Capital will be calculated as on the alst date of Financial Year preceding the FY in which remuneration is given.

So for 2009-10, calculate Effective capital as on 31st March 2009

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