Interest <br /><br />Allowed upto 12% Simple interest p.a. if authorized by partnership deed; and <br />Should not be for period prior to the date of partnership deed<br /><br />Salary, Commission or Allowance<br /><br />Allowed , if authorized by partnership deed subject to the maximum of :-<br />First Rs. 3,00,000 of book profit or in case of loss - Rs. 1,50,000 or 90 per cent of the book-profit, whichever is more -- <br />60 per cent of balance book profits
