Hello All,
Can we claim interest on partner capital in next financial year of current year if in current year loss in partnership firm?
Please suggest.
Thanks in advance.
virag Shah
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Interest on capital claim in next year
Replies (3)
All depends upon terms of Partnership Deed.
As per Income tax act, Can we take deduction in next financial year for both years?
I think you can make provision for salary payable to partners in current FY. Loss will increase to that extent.
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