https://www.taxtmi.com/news?id=2161 The Companies Act, 1956 prescribes a statutory ceiling on managerial remuneration for board-level chief executives calculated as a percentage of net profit; where companies have inadequate profits or losses, remuneration is determined in accordance with Schedule XIII, and any payment above the ceiling is permissible only with prior Central Government approval under the Act. en-us Thu, 25 Aug 2011 18:36:21 +0530 Thu, 25 Aug 2011 18:36:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=2161 The Companies Act, 1956 prescribes a statutory ceiling on managerial remuneration for board-level chief executives calculated as a percentage of net profit; where companies have inadequate profits or losses, remuneration is determined in accordance with Schedule XIII, and any payment above the ceiling is permissible only with prior Central Government approval under the Act. News - Thu, 25 Aug 2011 18:36:21 +0530 https://www.taxtmi.com/news?id=2161