Pl let us know about providing interest compulsory on Partner capital even firm was in loss during year 2010-11 & 2009-10
Pl let us know about providing interest compulsory on Partner capital even firm was in loss during year 2010-11 & 2009-10
Yes interest on partners capital can be provided even in the case of loss provided the same has been provided in the partnership deed. Moreover the rate of interest can not exceed 12%p.a.
Thanks & Regards
SMJ global advisors pvt ltd
New Delhi
B.Com
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
