How to charge interest on capital without partnership deed?
This query is : Open
09 April 2016
What can we do when partnership deed is silent about treatment of interest on capital?? How can we charge interest on capital from the partners of the firm in this condition....
10 April 2016
Unless it is specified in the Partnership deed , Interest on capital cannot be provided. If any interest is paid or provided , the same is treated as income of the Firm.
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