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        Companies Law

        Section 198 - Calculation of profits

        Companies Act, 2013
        Chapter XIII
        APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL

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        Company net profit computation requires excluding capital receipts and unrealised gains while allowing specified operating deductions. Computation of net profits for managerial remuneration requires credit for government bounties and subsidies and excludes capital receipts and unrealised or revaluation gains; mandatory deductions include working charges, directors' remuneration, staff bonuses, specified taxes on abnormal profits, interest, repairs, statutory contributions, depreciation, legally required compensation and bad debts; non-deductible items include income-tax, voluntary payments of damages, capital losses and changes in carrying amounts recognised in equity reserves.
                    Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                    Provisions expressly mentioned in the judgment/order text.

                        Company net profit computation requires excluding capital receipts and unrealised gains while allowing specified operating deductions.

                        Computation of net profits for managerial remuneration requires credit for government bounties and subsidies and excludes capital receipts and unrealised or revaluation gains; mandatory deductions include working charges, directors' remuneration, staff bonuses, specified taxes on abnormal profits, interest, repairs, statutory contributions, depreciation, legally required compensation and bad debts; non-deductible items include income-tax, voluntary payments of damages, capital losses and changes in carrying amounts recognised in equity reserves.


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