Accountancy
This query is : Resolved
prasanta dash
(Querist)
28 March 2017
When in the partnership deed is given to allow interest on capital but there is loss .Whether interest is to be given or not ? If yes at what %?
CA Gopal Somani
(Expert)
28 March 2017
Even in case of loss, the firm can pay the interest on capital to the partner and deduction of such interest will be allowed to the firm subject to the maximum of 12%pa
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