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Remuneration payable to partners

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(Querist)
23 October 2009 What is the remuneration payable to partners on book profit and also what is maximum and minimum remuneration payable in case of no profit or even loss.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
23 October 2009 W.e.f. 1-4-2010 :-
(a) on the first Rs. 3,00,000 of the book-profit or in case of a loss
Rs. 1,50,000 or at the rate of 90 per cent of the book-profit, whichever is more;
(b) on the balance of the book-profit
at the rate of 60 per cent.
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