I want to give remunaration to two director 300000 each i.e.600000 so for that purpose what is my net profit and what is the tax liabiliies after providing such remunaration. The Compny is Private limited company
director (M.COm.,CA final) (30 Points)
10 February 2014I want to give remunaration to two director 300000 each i.e.600000 so for that purpose what is my net profit and what is the tax liabiliies after providing such remunaration. The Compny is Private limited company
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 11 February 2014
Pl refer your Balance Sheet for knowing your net profit and tax liability.
If your query is relating to maximum remuneration that can be paid by a private company to its directors, pl note that there is no such ceiling since Sec.198 providing for ceiling is not applicable to a purely private company.
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