MCA has notified amendment to the Schedule V wherein limit of yearly remuneration payable to ‘other Directors’ has been prescribed. The remuneration shall be Rs. 12 lakhs where Co.’s effective capital is negative or less than Rs. 5 Cr. Remuneration will be Rs. 17 lakhs if effective capital is Rs. 5 cr or more but less than 100 Cr. In case if the effective capital is Rs. 250 Cr. and above, other Directors’ remuneration per year shall not exceed Rs. 24 lakh plus 0.01% of effective capital.MCA has notified amendment to the Schedule V wherein limit of yearly remuneration payable to ‘other Directors’ has been prescribed. The remuneration shall be Rs. 12 lakhs where Co.’s effective capital is negative or less than Rs. 5 Cr. Remuneration will be Rs. 17 lakhs if effective capital is Rs. 5 cr or more but less than 100 Cr. In case if the effective capital is Rs. 250 Cr. and above, other Directors’ remuneration per year shall not exceed Rs. 24 lakh plus 0.01% of effective capital.taxmann.com Latest Statutory HappeningsRead More
