Int. on capital
This query is : Resolved
19 December 2014
dear all,
in a partnership firm capital of one partner on 01.04.13 was 4550300 credit balance and on 28.02.14 was 700000 debit balance (total drawing during the year 5250300)
now my Question is what is interest on capital amount and why? (calculation method)
what is allowed amount by income tax for int. on capital?
Thanks in advance for all
in a partnership firm capital of one partner on 01.04.13 was 4550300 credit balance and on 28.02.14 was 700000 debit balance (total drawing during the year 5250300)
now my Question is what is interest on capital amount and why? (calculation method)
what is allowed amount by income tax for int. on capital?
Thanks in advance for all
19 December 2014
int is not decided by the it act by the partners in deed.
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01 August 2024
https://docs.google.com/document/d/1Tgz4-1HQA9T-mE8s2yinl7CkDTreyDfpmWUIrqrlgRg/edit?usp=sharing
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