Salary and interest to partners
This query is : Resolved
PARDEEP KAPIL
(Querist)
02 September 2019
DEAR SIRS : IN A PARTNERSHIP FIRM THERE ARE TWO PARTNERS INVESTED RS.10,00,000 AND RS.1,00,000 AND RATION OF PROFIT IS 50 : 50... NET PROFIT DURING THE YEAR IS 3,00,000.... TOTAL SALARY PAYABLE TO BOTH PARTNERS IS RS.2,70,000.... MY QUERY IS CAN WE PAY UNEQUAL SALARY OF RS.2,00,000 TO ONE PARTNER AND RS.70,000 TO ANOTHER PARTNER..... SIMILARLY CAN WE PAY INTEREST AT 12 % TO ONE PARTNER AND AT 6 % TO ANOTHER PARTNER.
CA R SEETHARAMAN
(Expert)
03 September 2019
If both partner's agree to it it can be paid.
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Amol S Joglekar
(Expert)
03 September 2019
salary can be paid as per the mutual agreement by and between the partners.
PARDEEP KAPIL
(Querist)
03 September 2019
Dear Seethramanji and Joglekar ji.... Thanks for response and firm reply
Amol S Joglekar
(Expert)
03 September 2019
you are most welcome.............
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