Abhijit Ghosh (.) (618 Points)
03 October 2016
CA Rahul Mor
(Chartered Accountant)
(173 Points)
Replied 03 October 2016
please ensure that salary with in the limit of companies Act, otherwise you take premission of CG.
Muralidharan
(Self Employed)
(1034 Points)
Replied 19 October 2016
There is no ceiling in salary payable to Managing Directors of Private Limited Companies. The provisions of Section 197 read with Schedule V of the Act is not applicable to private limited companies. Section 197 starts with the words "the total managerial remuenration payable by a public company, to its directors".
with regards
Muralidharan
CAclubindia
