PARTNERS SALARY
This query is : Resolved
24 April 2009
dear frinds,
please help me on this matter ,if a partnersip firms have a book profit for rs 6,05,000/- after depricition ,than how to calculate salary of partners.please advice me its urgent.
please help me on this matter ,if a partnersip firms have a book profit for rs 6,05,000/- after depricition ,than how to calculate salary of partners.please advice me its urgent.
24 April 2009
It is presumed that intt on capital has already been provided. The maximum amount of salary allowable will be:
90% of First Rs. 75000
60% of Next Rs 75000
40% of Balance Rs. 455000
The total of three calculations will be the maximum salary allowable subject to the provisions contained in the Partnership Deed.
90% of First Rs. 75000
60% of Next Rs 75000
40% of Balance Rs. 455000
The total of three calculations will be the maximum salary allowable subject to the provisions contained in the Partnership Deed.
24 April 2009
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