Kaushik Jagad of Bahvnagar asks “I have a partnership firm having 2 partners having equal shares i.e. 50 %. On 18/09/2009, 1 partner was retired and another 2 partners were admitted as partners having equal shares 1/3 of profit. At the year end 31-03-2010, there is net profit before charging remuneration is of Rs. 240000.00....