Remuneration for partner
This query is : Resolved
Adhirath Pai
(Querist)
13 January 2015
if working partner is not in the place of business is he eligible for remuneration ?
Amol S Joglekar
(Expert)
13 January 2015
Yes.
The term "working" partner has to be construed in a BROADER sense.
The term "working" partner has to be construed in a BROADER sense.
Rupesh Jain
(Expert)
13 January 2015
yes, if he is working for firm and get order or collect payment for the firm business.
13 January 2015
whether he is in place or not is not material aspect but he must be a working partner and been paid remuneration by firm is material
13 January 2015
Partnership deed should contain clause regarding partners remuneration. It is irrelevent whether he is here or not.
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