https://www.taxtmi.com/circulars?id=11016 Central Government approval is unnecessary for managerial remuneration during loss or inadequate profits if the appointment adheres to Schedule XIII and the general meeting resolution provides for the salary cut required by paragraph 2 of Part III of Schedule XIII; if remuneration is commission only under paragraph 2(ii) of Part II (Commission) of Schedule XIII, no remuneration is payable in case of loss. en-us Thu, 13 Apr 1989 00:00:00 +0530 Mon, 20 Jun 2011 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11016 Central Government approval is unnecessary for managerial remuneration during loss or inadequate profits if the appointment adheres to Schedule XIII and the general meeting resolution provides for the salary cut required by paragraph 2 of Part III of Schedule XIII; if remuneration is commission only under paragraph 2(ii) of Part II (Commission) of Schedule XIII, no remuneration is payable in case of loss. Circulars Companies Law Thu, 13 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11016