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Itr related

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(Querist)
20 December 2014 If a partner has negative interest in firm.will it be allowed as deduction while computing that persons itr??
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
20 December 2014 Negative interest in partnership firm is NOT an expenditure. Accordingly it is NOT allowed as a deduction.
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Rupesh Jain

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Rupesh Jain (Expert)
20 December 2014 this is not expenses. this is drawing excess from the capital.
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