Partnership act

This query is : Resolved

cvmashru (Querist)
Follow

22 November 2013 Three doctors wants to start practice in same building. They wants to practice individually and therefore they want to share expenses. My questions are as under:
(1) Can they have memorandum of understanding to share the expenses?
(2) Can they share expenses in equal ratio or according to ratio of receipt?
(3) Is there any draft is available in any book regarding sharing the expenses?

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

22 November 2013 1. regarding sharing of expense, it can be captured in the profit sharing ratio itself.

2. it can be any ratio.

3. it is advisable that you fix a profit sharing ratio. expenses are anyways shared in that ratio only.

cvmashru

cvmashru (Querist)
Follow

22 November 2013 There is no partnership deed and they do not intend to start the practice in partnership. They want to practice individually but in the same building. Please provide specific answer.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

22 November 2013 well your query was titled "Partnership Act"

in case you dont want a partnership, you may just sign an agreement/MOU listing out the possible expenses and the sharing ratio such as rent, maintenance, electricity, water, etc etc. the sharing can be based on the hours each doctor uses the said office, rent can be shared on the basis of space utilized etc etc

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Pushkar Nagda

Aayesha mulani

xavier

Thanwar Chhatwani

Anju Susan

Subscribe Now

Partnership act

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA