Account
This query is : Resolved
28 July 2013
when interest on capital is allowed,there are three partners in the firm & interest on capital is allowed to only one partner & interest on capital is more than profit ,then what should we do?
29 July 2013
Interest on capital has to be paid in accordance with the provisions of the PARTNERSHIP DEED. For ex:- If partnership deed says pay to one partner only , do accordingly.
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