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Interest on drawings - Partnership firm

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(Querist)
28 June 2020 Kindly explain the applicability of interest on drawing in a partnership firm with regard to the partner's capital account having debit balance.
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c.bakshi

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c.bakshi (Expert)
29 June 2020 INTEREST ON DRAWINGS WILL ONLY BE ALLOWABLE WHEN IT IS MENTIONED UNDER PARTNERSHIP DEED AND INTEREST WILL BE CHARGED AS PER AGREEMENT.

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