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Interest calculation on capital account

ITR 311 views 1 replies

Respected Sir / Madam,

One Partnership partner's capital accounts is AY 2016-17 (Opening Balance)...

Mr. Raman : Capital Account - Rs. 200,000 (Capital Introduced)

Current Account - Rs. 65000 (Capital received from PandL past Years)

 

Mr. James kannan : Capital Account - Rs. 200,000 (Capital Introduced)

Current Account - Rs. 65000 (Capital received from PandL past Years) in this way

How to I calculate Capital interest and which amount...?

The 12% will calculated Rs. 265000...? or Any other calculations...?

 

Thanks in Advance

Replies (1)

Yes you can calculate interest @ 12% on 265000/- provided interest on current account is authorised and in terms with partnership deed.


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