intrest on capital
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 August 2010
sir ,
while in traning, i hav got a case of partnership firm.
how to calculate interest on capital of a partner if he withdraws 6000 per month also he has paid LIC from his capital . there is no addition or any other transaction.
while in traning, i hav got a case of partnership firm.
how to calculate interest on capital of a partner if he withdraws 6000 per month also he has paid LIC from his capital . there is no addition or any other transaction.
16 August 2010
If method of calculating interest is specfied in the deed, as you know, that has to be followed. If not, the rational method, accoring to my understanding,is calculate interest on daily outstanding balance.
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