partner salary

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Sandeep Kumar

Sandeep Kumar (Querist)
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27 May 2010 entry for partner salary in p&l & can we less partner salary show than previous year

Aditya Maheshwari

Aditya Maheshwari (Expert)
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27 May 2010 Salary to partner will be debited in P & L and credit respective parter a/c

Second Question not very clear

Rahul Gupta

Rahul Gupta (Expert)
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28 May 2010 Agreed for the first part.

The second Q i think is that can we show less salary for the partner than the last year's salary.??
If this is the question, then answer is that yes you can show less salary in current year as compared to previous year.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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28 May 2010 Yes if ur 2nd question is to show lesser salary to partner than the last year then the answer is yes. Partners salary is dependent on the profit of the company and as per the terms in the partnership deed.

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