Partnership

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Alish (Querist)
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18 June 2017 A partner withdraw equal amount in the beginning if every month from 1st nov. if the total drawings is rs 6000 then calculate int on drawings at 12% p.a firm's accounting year ends on 31st march...

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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18 June 2017 Int will be Rs 4680/-

Alish

Alish (Querist)
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18 June 2017 how ma'm can u plz so the calcultn?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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18 June 2017 Int on drawing = Total drawings × Rate/100 × 6.5/12

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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18 June 2017 Total Drawings*12/100*6.5/12

Alish

Alish (Querist)
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18 June 2017 ans given rs 180...

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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19 June 2017 Not possible

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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19 June 2017 You have to take total drawing in formula(72000) not mobthly

Alish

Alish (Querist)
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19 June 2017 monthly also we can take ...but formula will b... 78/12

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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19 June 2017 72000*12/100*6.5/2

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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19 June 2017 sorry 6.5/2 is written in place of 6.5/12

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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19 June 2017 sorry again written wrong 6.5/12 is written in formula instead of 6.5/2

Alish

Alish (Querist)
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19 June 2017 okay...thnk u...

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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19 June 2017 Welcome.........

Alish

Alish (Querist)
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07 July 2017 My frnd is a sub distributor. .i:e he purchases the coupn and balance frm distributor and sells it to retailors his turnover is more than 80 lackhs...but profit margin is just 1%...his he liable for gst? ma'm rply

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