Very urgent
This query is : Resolved
Querist : Anonymous
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.
Amol S Joglekar
(Expert)
15 September 2016
yes it is very much possible, if the terms and conditions of the partnership so provide......
CA R SEETHARAMAN
(Expert)
15 September 2016
Sharing of profit is essential whatever the ratio may be.
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