On partnership deed
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 February 2013
Query:
Suppose A (Partnership Firm) and B (Ltd Co) want to Form a Fresh partnership for certain joint work. In the normal way they share PSR in equal or at ascertain ration mutually decided e.g. 25:75.
However, can there is specific condition can be place in agreement. Suppose the A will get out of total sale profit on (80% of sale - all expenses) and B will get profit on remaining sale – any other expenses?
Can the above said clause, we can put while drafting the partnership deed?
Suppose A (Partnership Firm) and B (Ltd Co) want to Form a Fresh partnership for certain joint work. In the normal way they share PSR in equal or at ascertain ration mutually decided e.g. 25:75.
However, can there is specific condition can be place in agreement. Suppose the A will get out of total sale profit on (80% of sale - all expenses) and B will get profit on remaining sale – any other expenses?
Can the above said clause, we can put while drafting the partnership deed?
CA Dhaval Patel
(Expert)
15 February 2013
The Partners are allowed to decide PSR at their own mutual concent.
So they can certainly include such type of PSR clause in the agreement.
So they can certainly include such type of PSR clause in the agreement.
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