In partnership Firm Interest on capital
This query is : Resolved
25 August 2009
In partnership Firm, there is interest to be paid on capital, what rate will applicable and what are the conditions after the partners remuneration calculation interest and deperication amt add or less please let me know
25 August 2009
12% if mention in deed
25 August 2009
Remunration to partners is to be calculated u/s 40 (b) of the IT Act,1961 after considering interest on capital and depreciation (calculated as per the rates of IT Rles,1962)as expenditure.
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