please help me on the simple topic of distributing the remuneration to the partner. I just know that there is change in the slabs for calculating the allowable remuneration but the problem is that i don't know how to provide the remuneration.
19 September 2013
If there is no provision for giving remuneration to the partners then you cannot give it to them. In that case they are entitled to share the profit only. In the partnership Deed itself it is mentioned which partner will get and how much can be distributed as remuneration or salary to the partners.