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interest earn by partnership firm
If any interest earned by partnership firm should be allowed to calculate partner remmunaration and such interest should be consider as other income or firm business income if firm having trading activity
Replies (2)
Any of the income received by the firm is booked as income.
Yes... It's accountability as per income source.
Yes... It's accountability as per income source.
Interest earned by Firm is one form of income only. Remuneration to partners to be as per Firm Deed. This interest income can also be considered for Remuneration purpose.
Such interest income is to be shown as business income only. Not an income from other sources unless it is from bank FDR
Such interest income is to be shown as business income only. Not an income from other sources unless it is from bank FDR
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