remuneration to partner
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 January 2010
with reference to above i want to know when the rule for new remuneration to partner will be in effect from
19 January 2010
This shall be applicable from the F/Y 2009-2010 itself:
So previous partnership deeds need changes in remuneration clause.
1.ON THE FIRST RS.300000- OF BOOK PROFITS
=> 90% OF THE BOOK PROFITS OR RS 150000
WHICHEVER IS MORE
2.IN RESPECT OF BOOK PROFITS MORE THAN RS.300000-
=>60%
FOR YOUR RFERENCE,EARLIER PROVISIONS WERE:
1.ON THE FIRST RS. 75000- OF BOOK PROFITS
=> 90% OF THE BOOK PROFITS OR RS 50000
WHICHEVER IS MORE
2.IN RESPECT OF NEXT RS.75000 BOOK PROFITS
=> 60%
3.IN RESPECT OF BALANCE
=> 40%
So previous partnership deeds need changes in remuneration clause.
1.ON THE FIRST RS.300000- OF BOOK PROFITS
=> 90% OF THE BOOK PROFITS OR RS 150000
WHICHEVER IS MORE
2.IN RESPECT OF BOOK PROFITS MORE THAN RS.300000-
=>60%
FOR YOUR RFERENCE,EARLIER PROVISIONS WERE:
1.ON THE FIRST RS. 75000- OF BOOK PROFITS
=> 90% OF THE BOOK PROFITS OR RS 50000
WHICHEVER IS MORE
2.IN RESPECT OF NEXT RS.75000 BOOK PROFITS
=> 60%
3.IN RESPECT OF BALANCE
=> 40%
19 January 2010
FY 09-10 ie. AY 10-11
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2010
gm. thanks for ur valuable suggetion plz tell me from which date the partnernership deep to be change for new remuneration clause.
21 January 2010
a supplimentary deed can be written to effect the new clause mentioning the applicability for financial year 2009-2010
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