banner_ad

Credit card loan

Others 163 views 2 replies
partnership firm, one of the partner is taken personal loan from his credit card and that amount utilized in there business, than how to account it and it's eligible for repayment with interest from partnership firm?
Replies (2)
In my opinion it shall be considered as loan given by partner to the firm.
And deduction of interest shall not be allowed in excess of 12%.
Yes, it's eligible for repayment after amendment in partnership deed but interest shall be restricted to 12%.
It's just introduction of current capital in Partnership firm, whether its from own fund of partner or from Loan...
Treatment have to be Given as same like Current capital in Books of firm..


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details