Remuneration Maximum Permissible Limit
Payment of remuneration to any partner who is a working partner, which is authorized by, and is in accordance with, the terms of the partnership deed and relates to any period falling after the date of such partnership deed in so far as the amount of such payment to all the partners during the previous year exceeds the aggregate amount computed as hereunder
Book Profit | Permissible Limit |
On the first Rs. 300000 of Book Profit or in case of Loss | Rs. 1,50,000 or 90% of Book Profits whichever is higher |
On the Balance Book Profit | 60% of Book Profits |
Book Profit For Allowable Remunneration
399314
(After notional set off of unabsorbed depreciation of Rs. 0 )
Remuneration Calculation
329588
90 % of First 300000
270000
60 % of Remaining 59588
Max Remuneration Allowable - 329588
Hope this Helps
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