HOW WE CALCULATE INTEREST ON CAPITAL IN A PARTNERSHIP FIRM
CA Navin Jain
(MANAGER (FINANCE & ACCOUNTS))
(11768 Points)
Replied 11 August 2008
| Originally posted by :RAHUL | ||
| " | HOW WE CALCULATE INTEREST ON CAPITAL IN A PARTNERSHIP FIRM | " |
as per the rate maintionedin the partnership deed
or
@ 12%
whichever is lower
allowable as deduction
CA RAMESH KUMAR AHUJA
(CA, DISA, LLB)
(5452 Points)
Replied 11 August 2008
It is to be calculated on daily product basis.
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