18 June 2014
Dear Sir, if new partner is entered in to firm during the f.y. ( feb ) and he gets monthly salary some amt. can i capitalised his annual salary or from feb only ?
18 June 2014
He can capitalized the salary (by not withdrawing salary and transferring it to capital a/c) but only from the date he has joined the firm.
18 June 2014
The Salary can b capitalized by the Partner by not withdrawing the salary, and transfer to capital account. But the important thing is the capitalization(of salary) can b done on and from his date of admission.
CAclubindia
