Salary and professional fees for a partner in a partnership

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 April 2017 My wife is partner in a clinic. She is being paid professional fees for all the consultation, procedure and scanning and other work she does in the clinic.
My query is will be professional fees be considered as partner's remuneration or partner remuneration and professional fees can be in separate heads.

Regards,
Easwar

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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14 April 2017 Partners remuneration and professional fees are different things. Partners remuneration is an appropriation of profits of the firm. It is paid to a partner for taking part in day to day business of the firm and for management of its affairs. Whereas professional fees is paid on account of professional expertise and professional services rendered by a partner for the cause of the firm. therefore in my opinion both may be paid as distinct heads.

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