section 197 managerial remuneration
if there is only one director managing director whole time director and manager means not exceeding 5%
if two or more above this mentioned persons not exceeding 10%
3% for which category??
1% for which category??
could you please explain me
2 Replies
sabyasachi mukherjee
(27561 Points)
Replied 04 June 2023
There is no other managerial remuneration other than sec 197.If there is only one director it means exceeding more than 5%.
Chirag
(Professional)
(1979 Points)
Replied 12 June 2023
3% and 1% for Non Executive and Independent Director ,If you read section 197 with Schedule V ,You will come to the following Points
1. Overall Max Managerial Remuneration -11%
2. Single MD/WTD - 5%
3. Overall MD/WTD - 10%
4. To NE / IDs - 1%
5. Overall NE/IDs when there is no MD/WTD - 3%
over and above requires special resolution and also well applied in case of no or inadequate Profit ( Slab Wise Limit with effective capital )
1. Overall Max Managerial Remuneration -11%
2. Single MD/WTD - 5%
3. Overall MD/WTD - 10%
4. To NE / IDs - 1%
5. Overall NE/IDs when there is no MD/WTD - 3%
over and above requires special resolution and also well applied in case of no or inadequate Profit ( Slab Wise Limit with effective capital )
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