17 September 2014
in many contract agreements the contract price is fixed with othe relevant cost reimbursement but escallation claim means suppose a contract was for 6 years but suddenly in year 4 there is sharp rise in prices of material so in order to cover the inflation the contract price is increased which is nothing but escalation claim and mostly all long term contracts contains this clause in the said agreement
Sir, What is rate of interest on loan to partner(in partnership Firm) as per INCOME TAX ACT and, if it is payable if not provision of interest on loan is mention in partnership deed?
17 September 2014
there is no provision for loan as there is provision for max int payable on capital @ 12% and any excess is disallowed so for loan there is no provision as such.
CAclubindia
