(Calculation of maximum remuneration where there is a managing director)
From the following particulars of G.G. Ltd. calculate the maximum remuneration payable to the managing director and other part time directors of the company:
|
Rs |
|
|
Net Profit before provision for income tax and managerial |
|
|
remuneration, but after depreciation and provision for repairs |
86,84,100 |
|
Depreciation provided in the books |
32,00,000 |
|
Repairs for machinery provided for during the year |
2,50,000 |
|
Actual expenditure incurred on repairs during the year |
1,50,000 |