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Remuneration and interest to working partners

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 February 2017 Dear Sir

Can partnership firm pay remuneration and interest to its working partners for FY 2016-17 ?? If yes on what basis.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
06 February 2017 Remuneration u/s 40b. Book profit upto 150000/ - upto 3 lakhs or 90% of profit and balance 60% of book profit. And interest rate as per deed but it should not exceed 12%.

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