Dear Members
Kindly send if any one having the Managerial remuneration calculation in Excel.
excel
calculation
remuneration
managerial
The applicant is an unregistered person. It has filed an application for advance ruling to determine whether salary received as director from a private limited company shall be considered for aggregate turnover for registration.
The Authority for Advance Ruling observed that as per the provisions of CGST Act, the aggregate turnover is equal to the sum of value of all taxable supplies, exempt supplies, export of goods or services or both and inter-State supplies of persons having same PAN to be computed on all India basis. It excludes the value of inward supplies on which tax is payable by a person on reverse charge basis and CGST, SGST, UTGST, IGST and cess.
In the given case, the applicant receives salary as director of private limited company. If the applicant is an Executive director of such company, he will be treated as employee of the company. In that case, the services of the applicant as an employee to the employer are neither supply of goods nor supply of services in accordance with Schedule III of the CGST Act. If the applicant is Non-Executive director, the remuneration paid by the company is liable to GST in the hands of company under reverse charge mechanism. The applicant has not submitted any documentary evidence to support whether the salary received by him is towards his services as Executive director or Non-Executive director.
In view of the above, in case remuneration is received by the applicant as Executive director then it is not includable in aggregate turnover, as it is the services given by the applicant as an employee. However, if the applicant receives remuneration as Non-Executive director, then the company is required to pay tax on reverse charge basis. Thus, the services of the applicant as a Non-Executive director are includable in the aggregate turnover, as it is the taxable services supplied by the applicant, even though the tax is discharged by the company.
If a director is getting remuneration, he is an Executive director - Is this interpretation correct as proper definition of executive director is not mentioned in the Act?
Click here to view / answer Share it onremuneration
directors
Dear All,
Please guide - Remuneration for services rendered by director.
1. Whether company have to pass any resolution??
2. Does it come under the purview of Section 188.
--
director
rendered
services
remuneration
Please guide - Remuneration for services rendered by director.
1. Whether company have to pass any resolution??
2. Does it come under the purview of Section 188.
director
rendered
services
remuneration
Dear members
Whether remuneration includes perquisites if paid under sec 197 , having profits.and if anyone having excell sheet for calculation under sec 198 pls forward.
remuneration
managerial
regarding
Dear members,
In case of a private company Can the remuneration paid to director of a company be reduced irrespective of the fact that its remuneration was increased earlier in the same financial year?
If yes, What are the documents required for reduction?
remuneration
director
reduction
Dear sir,
We have sold first floor of our shop. for Rs 17 Lcas. The WDV of the shop in our books is Rs 3.97 Lcas . We have deducted Rs 17 lacs from WDV. The result Profit on it. Can we claim Remuneration out of it or not.
remuneration
claim
Whether a public Company having Managing Director can pay remuneration to other directors as per Schedule V of the Companies Act,2013.?
directors
other
remuneration
managerial
Dear Professionals,
Kindly resolve the query-
The Pvt Ltd Company has paid salary to its Non-Executive director. Does the approval from the board/shareholders is required or is it exempted?
Whether AOC-2 is required to be filed?
limited
private
director
executive
remuneration
Dear Professionals,
Kindly resolve the query-
The Pvt Ltd Company has paid salary to its Non-Executive director. Does the approval from the board/shareholders is required or is it exempted?
Whether AOC-2 is required to be filed?
limited
private
director
executive
remuneration
Dear Members,
Query is as follows:
There is an increase in remuneration of Mr. _____ (WTD) for which a special resolution is passed in the AGM. As per the explanatory statement the following terms is mentioned:
Salary, Allowances and Perquisites (including benefits, facilities and amenities): Rs. 3,75,00,000 (Rupees Three Crores and Seventy Five Lakhs only) per annum, with the authority granted to the Board of Directors (hereinafter referred to as “the Board” which term shall include in Committee of Directors) to determine the remuneration including inter-se breakup thereof and grant increases from time to time not exceeding 20% per annum but subject to shareholders’ approval in the General Meeting.
Can the above clause be altered in such a way that if the shareholders approve for increase of 20% p.a in this AGM, the shareholders approval would not be required in the next AGM if the remuneration to be paid is increased from 3.75 Cr to say 4 Cr?
Please help in this matter and guide accordingly.
