Partnership
This query is : Open
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
(Expert)
18 June 2017
Int will be Rs 4680/-
CA Rashmi Gandhi
(Expert)
18 June 2017
Int on drawing = Total drawings × Rate/100 × 6.5/12
CA Rashmi Gandhi
(Expert)
18 June 2017
Total Drawings*12/100*6.5/12
CA Rashmi Gandhi
(Expert)
19 June 2017
Not possible
CA Rashmi Gandhi
(Expert)
19 June 2017
You have to take total drawing in formula(72000) not mobthly
CA Rashmi Gandhi
(Expert)
19 June 2017
72000*12/100*6.5/2
CA Rashmi Gandhi
(Expert)
19 June 2017
sorry 6.5/2 is written in place of 6.5/12
CA Rashmi Gandhi
(Expert)
19 June 2017
sorry again written wrong
6.5/12 is written in formula instead of 6.5/2
CA Rashmi Gandhi
(Expert)
19 June 2017
Welcome.........
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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