how to coinsider int. on kvp's joint a/c, is his /her proportion only considered?
how to coinsider int. on kvp's joint a/c, is his /her proportion only considered?
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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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