17 August 2020
There are 6 partners (Mom - Dad - 4 Children) (20%-20%-(15*4)%). Dad died and profit-sharing ratios now will be (Mom - 4Children) (20% - (20*4)%). i.e, 20% each. What will be the treatment of the capital of Dad if it is inherited to all the 4 children equally? And what will be the points in the highlight in amended partnership deed?
CAclubindia
