(1) | (2) | (3) | |
SL No. | Where the effective capital (in rupees) is | Limit of yearly remuneration payable shall not exceed (in Rupess) in case of a managerial person | Limit of yearly remuneration payable shall not exceed (in rupees) in case of other director |
(i) | Negative or less than 5 crores | 60 lakhs | 12 lakhs |
(ii) | 5 crores and above but less than 100 crores | 84 lakhs | 17 Lakhs |
(iii) | 100 crores and above but less than 250 crores | 120 lakhs | 24 Lakhs |
(iv) | 250 crores and above | 120 lakhs plus 0.01% of the effective capital in excess of Rs. 250 crores | 24 Lakhs plus 0.01% of the effective capital in excess of Rs.250 crores.” |
(c) in Section III, –
(i) after the words ―managerial person‖, wherever occurred, except in clause (i) of the proviso, the words ―or other director” shall be inserted;
(ii) after the words ―managerial persons”, wherever occurred, the words ―or other directors” shall be inserted;
(iii) following explanation shall be inserted at the end, namely:-“Explanation.–For the purposes of Section I, Section II and Section III, the term ―or other director” shall mean a non-executive director or an independent director.”
[F.No. 1/5/2013-CL-V]
K.V.R.MURTY, Jt. Secy.Note :
The Schedule V of the Companies Act, 2013 came into force with effect from the 1st April,2014 and was last amended vide notification number S.O. 4822(E) dated 12.09.2018 published in the Gazette of India
Reopening notice u/s 148 and order u/s 148A(d) quashed as it was issued by Jurisdictional AO and not by a…
Wrong amount of income accumulation mentioned in Form-10 due to clerical error - ITAT deleted addition made by AO In…
Once a finding of intent to avoid payment of tax recorded, the appellate authority before allowing appeal bound to reverse…
Empanelment to act as ICAI exam observers for September / November 2024 CA Examination. Last date to apply is 10.08.2024…
CBDT extends cut off date for investment by Twelve sovereign wealth funds / Pension Funds from 31st March 2024 to…
Appeal against inadequacy of sentence passed by special court in income tax prosecution cases dismissed by High Court In a…