How calculate intt. on capital in partnership firm of partne

This query is : Resolved 
 

(Querist) 05 April 2012

Dear Sir/ Madam
How will we calculate the intt. on capital of Partners ? if the firm is started from 01.04.11 means for the finanacial year 2011-12. in which 3 partners & ratio of 33% percent


CA Siddhartha Bhardwaj (Expert) 05 April 2012

Interest will be calculated on reducing balance method.

Murtaza Bhagat (Expert) 05 April 2012

yes agreed,

below file will help you to calculate

http://www.caclubindia.com/share_files/files_download.asp?files_id=19444



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