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Partnership - PSR

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(Querist)
14 October 2008 Is it possible for a partnership firm to have PSR like this
say 3 partners:
A - 30%
B - 30%
C - 30%
Reserves & Surplus a/c - 10%

Res & Surpls a/c to be distributed equally among the partners or as mutually agreed upon by them at any time or at the time of distribution
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Taxguy

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Taxguy (Expert)
14 October 2008 Not possible. As the partners undertake to take profit and loss in the proportinate share.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
14 October 2008 100% to be shared necessarily among the partners.



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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
15 October 2008 Great thought,but sorry to say, its not permissible

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