90% of Rs.3 Lakhs = Rs 2,70,000
Clearly, this amount is more than Rs.1,50,000.
So, for the first Rs.3 Lakhs, the limit of Rs.2,70,000 will be considered.
In conclusion, LLP remuneration to partners is an important aspect that needs to be considered while setting up an LLP or formulating an LLP agreement. While partners are entitled to a share in the profits of the LLP, there are legal provisions that govern the payment of other kinds of remuneration to partners in LLP. It is advisable for LLPs to seek professional advice and ensure that their LLP remuneration to partners policies are in line with the applicable laws and regulations.
Very helpful guide on remuneration to partners in LLP. Every point described here is easy to grab and thus, very helpful. Thanks
I wanted to know the rules for partner remuneration. I found your blog on Google, and it answered all my queries perfectly. Thank you for clarifying my concept through this blog!
Straightforward overview of LLP partner pay, focusing on interest on capital and its tax effects.
Useful info on tax implications for LLP partners receiving remuneration. Important for financial planning. Thanks for sharing this.