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Interest on partners' capital

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Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2013
A partner has introduced Rs. 5 lac in August-12 & Rs. 5 lacs in March-13 in the partnership firm in the very first year. Can Interest on partners' capital be given @12% (mentioned in the deed) for the whole year or from Aug-12 to Mar-13?

Nitesh Parmar

Nitesh Parmar (Expert)
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19 September 2013 Its 12% Per annum.

Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2013 Nitesh ji try to understand the question dear. My question is for period for which interest should be given i.e. from Aug-12 or for the whole year?

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