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
SMJ global advisors pvt ltd
New Delhi
B.Com
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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Shaswat initial support private limited
Ahmedabad
CS
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Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
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CAclubindia
