Interest on capital
This query is : Resolved
11 October 2013
sir tell me the calculation of interest on capital provided to a partner of the firm
11 October 2013
depends on whether the capital is fluctuating or fixed. If it is fixed, then apply normal simple or compound interest formula as may be agreed up by the partners.
If it is fluctuating, then use product method.
If it is fluctuating, then use product method.
11 October 2013
The present allowed rate as per 40{b} is 12 percent p.a
TDS on such interest is not applicable vide section 194A{3}{iv} of the IT ACT..
TDS on such interest is not applicable vide section 194A{3}{iv} of the IT ACT..
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