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Int. on partners capital account

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 September 2014 If a partnership deed provides for 12% of interest on partners capital, and the partnership firm has net profits after allowing all expenses, then whether entire 12% interest on partners capital is allowed or not ???
The above interest is providing to all active and working partners only. is there is any other disqualification apply on int. on partners capital in the above case.
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CA Parul Saxena

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CA Parul Saxena (Expert)
08 September 2014 no disqualification ; interest is allowed.
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 September 2014 Ok thanks for the prompt and positive response...
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