SUPPLEMENTARY DEED OF PARTNERSHIP
M/S XYZ
The supplementary Deed of Partnership is made on 01 St day of April, 2024 and the
written document of above partnership is made on 22th April, 2025 by and between:
1) Shri XYZ aged about 35 years, son of Shri XYZ, resident at Surat, Gujarat.
(Hereinafter to be called the First Part);
2) Smt XYZ aged about 35 years, wife of XYZ, resident at Surat, Gujarat.
(Hereinafter to be called the Second Part);
3) Shri XYZ aged about 32 years, son of Shri XYZ, resident at Surat, Gujarat.
(Hereinafter to be called the Third Part);
4) Smt XYZ aged about 33 years, wife of Shri XYZ, residing at Surat, Gujarat
(Hereinafter to be called the Forth Part);
WHEREAS, the of above parties referred had been carrying on business of Trading
of Electricals Goods and Machinery Supply and other related items business at Surat-
395002. Gujarat under the name and style of M/S.XYZ. w.e.f 8th Day of May, 2015 and
had executed a supplymentary deed of partnership on 22th Day of April, 2025.
WHEREAS, the parties referred to above hereby had been desire to amend in
the clauses 6 and addition of clauses 16 of the terms and conditions on which they
have decided to carry on their partnership business w.e.f. 1st April, 2024. Accordingly,
in order to avoid any dispute and misunderstandings in regard to such amendment in
the partnership deed, all the aforesaid parties have decided to writing the changed
terms and conditions of partnership business .
AND WHEREAS it is mutually agreed and decided by the above referred parties that
this supplementary deed shall be considered to the part previous deed dtd. 08th Day of
May, 2015 and all the other terms and conditions would remain the same and shall be
applicable due respect.
NOW THIS SUPPLEMENTARY DEED TO AMEND and ADDITION THE CLAUSE OF
PARTNERSHIP WITNESSES AS UNDER:
6. Remuneration Payable to Partner:
That Shri XYZ and Shri XYZ have agreed to keep themselves actively engaged
in conducting the affairs of the business of the partnership firm. The said partner
shall be working partners. It is hereby agreed to that in consideration of the said
parties keeping themselves actively engaged in the business of the partnership
firm and working as working partners, shall be entitled to remuneration.
The remuneration payable to the said working partners shall be computed
in the manner laid down or deduction under section 40(b)(v), read with
Explanation 3 of the Income-tax Act, 1961 or any other applicable provision as
may be in force in the income-tax assessment of the partnership firm for the
relevant accounting year. Such amount of remuneration shall be distributed
between the said working partners in the following proportion:
A. Shri Narendra Keshavbhai Barasara 50%
B. Shri Chetanbhai Dhanjibhai Vekariya 50%
Currently total remuneration payable to the working partners shall be worked out
as under:
In the case of the book profit up to Rs.3,00,000/- or 90% of the
Rs.6,00,000/- for the year or in case of book profit which ever is higher
loss
on the amount of the book profit 60% of excess over
exceeding Rs.6,00,000/- Rs.6,00,000/- book profit
The partners shall be entitled to increase or reduce the above
remuneration and may agree to pay remuneration to other working partner or
partners as the case may be. The partners may also agree to revise the mode of
calculating the above said remuneration as may be agreed to by and between
the partners from time to time.
IN WITNESS WHEREOF the parties to this deed have set their hands on the day
and year first above written and in the presence of:
SIGNED, SEALED & DELIVERED by the
within named Party of the First Part
Shri XYZ
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Sign …………………………………
Smt XYZ
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Sign …………………………………
Shri XYZ
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Sign …………………………………
Smt XYZ
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Sign …………………………………
WITNESSES;
1.
2.
