Partners salary
This query is : Resolved
12 April 2012
in partnership firm how will be show partners salary & how many show is there any percentage of salary or not
Murtaza I Bhagat
(Expert)
12 April 2012
Allowable remuneration to partners will be as under:
On book profit of Rs 3 lacs or loss : Rs 1,50,000 or 90% of the book profit- whichever is higher.
On rest of the book profit : 60%
On book profit of Rs 3 lacs or loss : Rs 1,50,000 or 90% of the book profit- whichever is higher.
On rest of the book profit : 60%
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