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of <h1>Section 198 of Companies Act, 2013: Calculating Net Profits for Managerial Remuneration with Specific Inclusions and Deductions.</h1> Section 198 of the Companies Act, 2013 outlines the calculation of net profits for managerial remuneration. Profits include government bounties and subsidies, excluding certain capital gains and unrealized gains. Deductions cover working charges, directors' remuneration, taxes on excess profits, interest on loans, and depreciation. Non-deductible items include income tax, voluntary payments, and capital losses. The section ensures a clear framework for determining net profits, balancing recognized income and allowable deductions, while excluding specific capital-related and unrealized financial changes.
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