Hi All! I want to know about the provisions for Salary/ Remuneration of Partners in LLP.
How can the profit be distributed between partners?
How the interest on the partner's capital contribution will be computed?
Thanks.
Replies (1)
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A)Remuneration payable to partners shall not exceed the following limit: On first Rs. 3 Lakhs of book profit or in case of loss - Rs. 1,50,000 or 90% of book profit, whichever is more .b) Profit/Loss As Per Partnership Deed
.c)Interest payable to partners shall not exceed 12% per annum on capital contribution or withdrawal.
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