Remuneration & interest to partners
This query is : Resolved
26 October 2012
Hi Friends,
I want know that what is the limit for rem. & int. to partner.
I want know that what is the limit for rem. & int. to partner.
26 October 2012
Remuneration to Working Partners:
On the First 300000 of the Profit or In case of Loss: 150000 or 90 % of profit which ever is more
On balance profit:60% of the profit
INTEREST ON PARTNERS CAPITAL:
Maximum interest allowable on capital/current accounts of partners is 12% per annum. The payment of interest should be authorised by and in accordance with the instrument of partnership.
On the First 300000 of the Profit or In case of Loss: 150000 or 90 % of profit which ever is more
On balance profit:60% of the profit
INTEREST ON PARTNERS CAPITAL:
Maximum interest allowable on capital/current accounts of partners is 12% per annum. The payment of interest should be authorised by and in accordance with the instrument of partnership.
26 October 2012
Agreed with Mr. Subhash.
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