Dear Sirs/ Madam,
Please guide how to calculate the Interest on Capital to the partners of the firm

On the balance on balance sheet as on 31.03.0000 except current year profit

or

On the daily balance basis

Please explain with example

Thanks & regards,

What are the returns to be filed by a Private Limited Company and where to filed.
Like Mobthly, Quarterly, or Anually.
As Per Companies Act.
Thanks

Dear All,

We are at partnership firm with Two partners. This is regarding interest payable to the partner of firm. What is the rate of interest and how to calculate the interest, is any TDS applicable on interest. In partnership deed provision of interest is @ 15% per annum.

Point mentioned in Deed is as under

[The funds required for the purpose of the partnership business shall be contributed or arranged by the partners in such manner and may be mutually agree upon interest at the rate of 15% PA simple interest or such lower/ higher rate as may be prescribed under section 40(b) IV of the Income Tax Act, 1961 or any other applicable provisions as may be force for the Income Tax Assessment.]

Please guide is firm labile to pay interest on capital to the partners also want to tell we are not paying any salary or any reimbursement to any partners.

Is profit of Private Limited Co. be divided among the directors or any other entry has to be passed.

Dear All,
Can any body please send me the medium level partnership firms (Mfg.) Profit & Loss format with head of Expenses and which head we can book which types of expenses.

thanks in advance

regards,

I have opened a Pvt Ltd Company. I want to know.
1. What is the remuneration payable to directors?The remuneration will be treated as his salary or like consultation fees.
and Is Interest to paid on the capital invested by directors.

2. What is the remuneration payable to CEO? The remuneration will be treated as his salary or like consultation fees.

I am working in a distributorship firm of Lubricants for HPCL and BPCL. Is there any maximum limit for Misc. Expenses in month or I can show unlimited amount as Misc. Expenses with supported Cash Memo and Bills.

hi,

pls let me know how interest accrued on defined benefit plan-gratuity fund is to be accounted in profit and loss account

thanks

Respected members

how to get more than seventy marks in accounts

Sir/Madam,

While doing chapter of "Non-profit Organizations" we prepare
*Receipt and Payment A/c*

Now in book I've read that this A/c doesn't form part of Double Entry System.
Why is it so...???

Or how could we judge that this or that A/c or Statement doesn't form part of Double Entry Accounting System...???