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Salary to Partners

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 May 2010 Subject to the provision contained in the partnership deed.it is necessary to provide salary to the partners.

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Gajendra R. Tiwari

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Gajendra R. Tiwari (Expert)
07 May 2010 As per Indian Partnership Act, 1932 in the absence of partnership deed partners are not entitled to interest on capial, Salary etc.

No interest on drawings should be charged to them and they share profits and losses equally.

Hence, no salary should be provided to partners.

experts view is solicited.
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Rahul Gupta

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Rahul Gupta (Expert)
07 May 2010 Agreed with Mr. Tiwari.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 May 2010 ok
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