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Interest on capital is

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1359 Points Joined October 2021
interest on capital is expense partnership firm ???
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On 07 November 2021 at 16:44 Report
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ca
603 Points Joined May 2013
Yes it's deductable expense
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On 07 November 2021 at 16:52
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1359 Points Joined October 2021
But interset on capital is appropriation of profit!
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On 07 November 2021 at 16:55
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Chartered Accountant
24588 Points Joined November 2019
Deduction for income tax purposes
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On 07 November 2021 at 16:58
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1359 Points Joined October 2021
Reserve is also expense??
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On 07 November 2021 at 17:03
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Chartered Accountant
24588 Points Joined November 2019
No....
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On 07 November 2021 at 20:36
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ca
603 Points Joined May 2013
Interest on capital is not appropriation of profit.
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On 08 November 2021 at 14:56
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Chartered Accountant
24588 Points Joined November 2019
Yes it is not appropriation of profit
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On 12 November 2021 at 06:06
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1359 Points Joined October 2021
Why ???
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On 29 November 2021 at 13:47

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