dear sir
i have quaery about partnership firm for interest on capital account on opening balance. whether interest on current account of partners is applicable for partnership. if deed mention current & capital account on interest. pls solve that
Income tax
Replies (2)
the interst account is indivdual or a corporative ?
Yes you can provide the intt on both bal I.e. on fixed capital account as well as current capital account subject to clause mentioned in partnership deed .
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