Vani.A (CS) (168 Points)
02 May 2017In X a public limited company, Mr.A, a Managing Director gets a remuneration of Rs.3 lakhs per month. Mr.A also gets Rs. 2 Lakhs per month as salary from a private limited company.
Should we include this salary of 2 lakhs to calculate managerial remuneration ceiling.
Kindly advise
Law Aspire
(CS)
(755 Points)
Replied 02 May 2017
You cannot pay remuneration from two companies. this is not lawful
Sudhir Todkar
(CS Professional)
(1021 Points)
Replied 02 May 2017
Vani.A
(CS)
(168 Points)
Replied 03 May 2017
Friends,
Mr.A is a managing director of a company and in other private limited company, Mr.A is not a director but getting salary under some designation.
Should that salary be included
SREENATH P.
(Company secretary)
(208 Points)
Replied 03 May 2017
From the query I understood that these two companies are independent companies. So what is the purpose of adding remuneration from both companies together?For computing ceiling under section 197,no need to add remuneration from multiple companies.
Sudhir Todkar
(CS Professional)
(1021 Points)
Replied 03 May 2017
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