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interest on capital

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(Querist)
18 September 2009 i m running a partnership firm .firm is incurring losses & as per my deed i & my partner is entiled to 12% interest on capital .can i claim so & can there be loss on account of interest on capital
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
18 September 2009 If there is a stipulation in the deed,interest is to be charged in the accounts. Otherwise the accounts prepared will not be in accordance with the provisions of the deed.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
19 September 2009 agree
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
19 September 2009 Agreed
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Anjani Pratap Tiwari

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Anjani Pratap Tiwari (Expert)
21 September 2009 Yes if in the deed it is prescribed you can charge interest whether it is profit or loss
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