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Querist : Anonymous

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Querist : Anonymous (Querist)
15 September 2016 if in current situation firm is formed with two partners. one partner is working abroad and filing return there only. now indian partner want to change in deed with nri partner nil capital and no salary ,profit (nothing) is it possible that nri partner will not get any profit ,remuneration and no contribution in capital.

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Amol S Joglekar

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Amol S Joglekar (Expert)
15 September 2016 yes it is very much possible, if the terms and conditions of the partnership so provide......
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
15 September 2016 Sharing of profit is essential whatever the ratio may be.
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