Partnership deed
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 June 2018
IS IT COMPULSORY TO GIVE INTEREST ON CAPITAL AS PROVIDED IN PARTNERSHIP DEED???
IS IT POSSIBLE
WE CAN'T PROVIDE INTEREST ON CAPITAL EVEN THOUGH INTEREST RATE PROVIDED IN PARTNERSHIP DEED
IS IT POSSIBLE
WE CAN'T PROVIDE INTEREST ON CAPITAL EVEN THOUGH INTEREST RATE PROVIDED IN PARTNERSHIP DEED
CA Mayur Todmal
(Expert)
11 June 2018
not compulsory to book interest on capital
Message likes :
1 times
11 June 2018
It is better to provide interest as per deed ,otherwise a question may arise that the
accounts are prepared ' not in accordance' with the provisions of the instrument
of partnership.
accounts are prepared ' not in accordance' with the provisions of the instrument
of partnership.
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