Save Rs 499. Go Ad-Free with CAclubindia Pro for 2 Full Years. Subscribe Now!

banner_ad

Interest on capital n interest on drawings

This query is : Resolved

Share Report Follow Query Ask a Query

Shruthi (Querist)
Follow

11 May 2012 hello sir i hav a doubt on int on capl and int on drawings.which is income and which is expense?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

11 May 2012 Interest on capital is PAID to the partner. Accordingly it is an expense for the firm.

Interest on drawings is CHARGED/RECEIVED from the partner. Accordingly it is an income for the firm.

Reverse will be treatment in the books of the partner.

Interest on capital will be income and interest on drawing shall be expense.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

CCI Pro

Meet our CAclubindia PRO Members

Pro Member Suranjan Das

Suranjan Das

Pro Member arulca21@gmail.com

arulca21@gmail.com

Pro Member Pranab Banerjee

Pranab Banerjee

Pro Member Sidhartha sankar pillai

Sidhartha sankar pillai

Pro Member prasanth kona

prasanth kona

Follow us

add to google news

Answer Query

Quick Links

Browse by Category

Latest Job Openings

View all

26 May 2026

CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details

ARTICLESHIP 28 May 2026

Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details

29 May 2026

Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details

19 May 2026

Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details

19 May 2026

Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details

01 June 2026

Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details

09 June 2026

Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details

29 May 2026

Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details