Dear All,
My Query is given below:
A firm XYZ having 3 partners X Y Z, profit sharing ratio 2:1:1
Y & Z are working partners
Allowable salary to working partners computed on book profits 1600000/-
as per above, What is the maximum amount can be given to working partners as Salary? it has any relation with profit sharing ratio??
only working partners are eligible for salary. pofit sharing ratio does not play role for partners remuneration. in case the partnership deed is silent about that you may share the remuneration equally
ADY & CO.
New Delhi
Graduate (Any)
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Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
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AJAY SINGH AND CO LLP
Thane
CA Final
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S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
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CCI
Pro
CAclubindia
