Partners salary

Asok Sounder (Querist) 07 July 2012 This query is : Resolved
Whether the partners salary should be given as in the DEED or we can reduce the salary according to business profit

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Rajeev Kumar (Expert) 07 July 2012
There is no bar in partnership act that salary written in partnership deed is manadatory to pay. It can be reduced or hiked according to profit or losses but before doing so a resolution should be passed

Sailesh Kumar Shah (Expert) 07 July 2012
It can be reduced subject to consent of partner.

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