https://www.taxtmi.com/acts?id=12512 Section 198 limits managerial remuneration for public companies and their private subsidiaries to a statutory percentage of net profits computed under the profit computation rules, excluding director fees under the separate provision. Within that maximum, companies may pay monthly remuneration to managing or whole time directors and managers under the relevant statutory provisions. If a company has no profits or inadequate profits, remuneration to directors and managers requires prior Central Government approval. "Remuneration" is defined to include rent free or concessional accommodation, other free or concessional benefits, company borne obligations or services, and insurance, pension, annuity or gratuity expenditures. en-us Tue, 10 May 2011 16:36:43 +0530 Tue, 10 May 2011 16:36:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12512 Section 198 limits managerial remuneration for public companies and their private subsidiaries to a statutory percentage of net profits computed under the profit computation rules, excluding director fees under the separate provision. Within that maximum, companies may pay monthly remuneration to managing or whole time directors and managers under the relevant statutory provisions. If a company has no profits or inadequate profits, remuneration to directors and managers requires prior Central Government approval. "Remuneration" is defined to include rent free or concessional accommodation, other free or concessional benefits, company borne obligations or services, and insurance, pension, annuity or gratuity expenditures. Act-Rules Companies Law Tue, 10 May 2011 16:36:43 +0530 https://www.taxtmi.com/acts?id=12512