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Remuneration & interest to partners

This query is : Resolved 
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(Querist)
26 October 2012 Hi Friends,
I want know that what is the limit for rem. & int. to partner.
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CA. Subhash Dangi

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CA. Subhash Dangi (Expert)
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.
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CA Amit Jaiswal

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CA Amit Jaiswal (Expert)
26 October 2012 Agreed with Mr. Subhash.
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