https://www.taxtmi.com/circulars?id=9702 Where a company proposes managerial remuneration above Schedule XIII limits linked to effective capital, it must apply to the Department of Company Affairs with a board/AGM resolution and detailed justification addressing losses, remedial steps, financial health (effective capital, net worth, turnover, profit/loss, dividend), industry nature, foreign collaboration, expansion plans and the appointee's qualifications and past remuneration; the total package including perquisites must be valued at actual cost for Companies Act purposes and income tax liability shown separately. A prescribed checklist and authenticated supporting documents (newspaper notices, five years' audited accounts, FIPB approvals where relevant) are required to avoid deficiencies. en-us Thu, 27 Dec 2001 00:00:00 +0530 Wed, 08 Jun 2011 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9702 Where a company proposes managerial remuneration above Schedule XIII limits linked to effective capital, it must apply to the Department of Company Affairs with a board/AGM resolution and detailed justification addressing losses, remedial steps, financial health (effective capital, net worth, turnover, profit/loss, dividend), industry nature, foreign collaboration, expansion plans and the appointee's qualifications and past remuneration; the total package including perquisites must be valued at actual cost for Companies Act purposes and income tax liability shown separately. A prescribed checklist and authenticated supporting documents (newspaper notices, five years' audited accounts, FIPB approvals where relevant) are required to avoid deficiencies. Circulars Companies Law Thu, 27 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9702