Interest on capital to partners
This query is : Resolved
badrinarayanan
(Querist)
11 September 2014
In a partnership firm, can the interest on capital be charged on opening capital?
The deed specifies that interest on capital is allowed at 18%?
What is the maximum limit allowed?
The deed specifies that interest on capital is allowed at 18%?
What is the maximum limit allowed?
11 September 2014
Interest is allowable ( for income tax purpose) @12% per annum.
badrinarayanan
(Querist)
11 September 2014
Can the interest on capital be charges on opening Balance of capital?
01 August 2024
https://docs.google.com/document/d/1APiQcVEalH5v3wSOr2iqHzWVelJ8MQLhqr_BXsF1w0s/edit?usp=sharing
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