how to coinsider int. on kvp's joint a/c, is his /her proportion only considered?
Vikas
(CA)
(1135 Points)
Replied 28 June 2011
It depends.
If the KVP Investment is being shown 50-50% in both the balance sheet then the interest element shall also be taken as 50-50.
Else the payor can claim the investment and also the interest thereon.
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