Whether partners interest can be capitalised
This query is : Resolved
13 July 2012
If i have a partnership firm which has construction business, whether i can capitalise partners interest in capital WIP account?
please help..
and whether it is necessary to charge partners interest in initial years of construction.
please help..
and whether it is necessary to charge partners interest in initial years of construction.
13 July 2012
The "interest clause" in partnership deed may kindly be verified before making any decision.
.
In my view, if the terms of deed allows, you can capitalise interest on partners' capital in WIP.
.
.
In my view, if the terms of deed allows, you can capitalise interest on partners' capital in WIP.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS applicability in case of software payments to a foreign company
- Tax on Goodwill on LLP
- Procedure to surrender export incentive
- Registration of Articleship
- Reverse charge on commercial property
- INCOME TAX SAVINGS PLAN FOR NEW REGIME FY 2025-26 (MAN/WOMAN)
- Capital gains -1
- Capital gain tax after 23 jul 2024
- 26Q TDS UTILITY IN NSDL TIN LATEST UTILITY DOWNLOAD LINK
- Clarification on Cost of Acquisition and Capital Gains Tax Treatment for Tata Chemicals
- TDS ON OTA Commission
- Is rcm applicable on cleaning services?
- GST INVOICE RAISED BY THE FRADULENT COMPANY WITHOUT THE KNOWLEDGE OF THE OTHER PARTY
- First Auditor was not appointed till 9 months
- Doing Jobworks eway bill is mandatory or not
- GST on Co-Operative Housing Society
- Filing of forms on MCA portal for allotment of shares for a new company
- RCM Reconciliation Excel Sheets Format
- Goodwill realeted
- Revision under Section 264 in The Income Tax Act, 1961
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
