Calculation of partner's remuneration in case of loss
This query is : Resolved
10 July 2012
I am having one client who's net loss for the last year is Rs. 50,000/- exclusive of Interest on capital i.e Rs. 12500/-.
I need to know what is the best way to pay off the interest on capital?? Should they capitalized the interest amount to capital account or firm should pay it off in cash??
Is firm is in condition to pay remuneration??
Yes if how much it can pay the remuneration to the partners
I need to know what is the best way to pay off the interest on capital?? Should they capitalized the interest amount to capital account or firm should pay it off in cash??
Is firm is in condition to pay remuneration??
Yes if how much it can pay the remuneration to the partners
11 July 2012
The firm can pay a maximum remuneration of Rs. 1.5 lakhs.
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11 July 2012
the firm can pay total remuneration to all partner up to Rs 1.5 lacs.
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13 July 2012
thanks siddhartha and Mr. Anshul, can u guys tell the exact way to calculate Book profit at year end.
13 July 2012
Is it better to pay interest on partner's capital in cash or
to capitalized the amount in capital account in case of loss.
to capitalized the amount in capital account in case of loss.
14 July 2012
it's depend on partnership deed .
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