Calculate the managerial remuneration from the following particulars of Zen Ltd. The company has only one Managing Director: ₹ Net profit 20,00,000 Net profit is calculated after considering the following: Depreciation 4

Calculate the managerial remuneration from the following particulars of Zen Ltd. The company has only one Managing Director: ₹ Net profit 20,00,000 Net profit is calculated after considering the following: Depreciation 4,00,000 Preliminary expenses 1,00,000 Provision for tax 31,00,000 Director's fee 80,000 Bonus 1,50,000 Profit on sale of fixed assets (original cost ₹2,00,000; WDV ₹1,10,000) 1,55,000 Provision for doubtful debts 90,000 Scientific research expenditure (for setting-up new laboratory) 2,00,000 Managing Director's remuneration paid 3,00,000 Other information : — Depreciation allowable is ₹3,50,000. — Bonus liability as per the Payment of Bonus Act, 1965 is ₹1,80,000. — Looking at the past records of debtors, provision for doubtful debts is not required. — Rate of managerial remuneration is 5%.