02-19-2009, 09:17 PM
According to Partnership Act,1932 if no agreement about distribution of profit exists among partners then all the profits of a firm shall be distributed equally irrespective of capital and sevices contributed by them.
But salary can be given to a partner only if a contract exists among partners.
Awais Aftab
But salary can be given to a partner only if a contract exists among partners.
Awais Aftab