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(Querist)
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?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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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