Provision for Salary/Remuneration of Partners in LLP

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Yogesh

Advocate

61 Points Joined July 2009

Hi All! I want to know about the provisions for Salary/ Remuneration of Partners in LLP.

How can the profit be distributed between partners?

How the interest on the partner's capital contribution will be computed?

Thanks.

Replies (1)

Guest

A)Remuneration payable to partners shall not exceed the following limit: On first Rs. 3 Lakhs of book profit or in case of loss - Rs. 1,50,000 or 90% of book profit, whichever is more
.b) Profit/Loss As Per Partnership Deed

.c)Interest payable to partners shall not exceed 12% per annum on capital contribution or withdrawal.