Remuneration & capital interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 March 2012
I want to know when to pay remuneration & capital on interest of partner's capital ??
after book profit or before every provision ?
after book profit or before every provision ?
CA MANOJ GUPTA
(Expert)
01 April 2012
U CAN PAY IT ANY TIME BUT ALLOWANCE OF REM AS DEDUCTION WILL DEPEND UPON BOOK PROFITS
14 April 2012
As per IT Act you cannot pay interest more than 1`2% and there should be book profit in the company
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