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If we change profit sharing ratio

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1359 Points Joined October 2021
if we change profit sharing ratio/ interest rate/salary amount any of the above so does we have to update
this in partnership deed ??
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On 05 November 2021 at 20:39 Report
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Practice
3235 Points Joined August 2009
Yes supplementary deed need to be made for the above stated changes..
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On 05 November 2021 at 22:06
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GST Consultant
15986 Points Joined March 2013
Yes these changes have to be done through agreement between partners. As a proof of such agreement supplementary deed will have to be signed between the partners.
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On 06 November 2021 at 09:49
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Chartered Accountant
24588 Points Joined November 2019
Yes deed should be supplemented
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On 07 November 2021 at 06:03

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