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Partnership

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 September 2014 Dear Sir,
In case of a partnership firm, Interest on capital should be calculated on the capital balance as on 01/04/2013
or
It should be calculated on the balance as on 31/03/2014.

Please clarify.
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CA P K AGRAWAL

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CA P K AGRAWAL (Expert)
24 September 2014 intt should be calculated on fixed capital on first date of financial year and adjusting any change accordingly i.e. on balance basis
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CA P K AGRAWAL

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CA P K AGRAWAL (Expert)
24 September 2014 intt should be calculated on fixed capital on first date of financial year and adjusting any change accordingly i.e. on balance basis
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