On partnership deed

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2013 Query:
Suppose A (Partnership Firm) and B (Ltd Co) want to Form a Fresh partnership for certain joint work. In the normal way they share PSR in equal or at ascertain ration mutually decided e.g. 25:75.
However, can there is specific condition can be place in agreement. Suppose the A will get out of total sale profit on (80% of sale - all expenses) and B will get profit on remaining sale – any other expenses?
Can the above said clause, we can put while drafting the partnership deed?

CA Dhaval Patel

CA Dhaval Patel (Expert)
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15 February 2013 The Partners are allowed to decide PSR at their own mutual concent.

So they can certainly include such type of PSR clause in the agreement.