WHAT IS THE TREATMENT OF NEGETIVE CAPITAL ACCOUNT OF ONE PARTNER IN PARTNERSHIP?
WHAT IS THE REPORTING REQUIREMENT AND TAXATION IF ANY
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Negetive capital account in partnership
Replies (2)
If partner's capital will fall under negative then it will be shown under Current Asset in the BS...
ok sir..is there any legal provision which prohibits negetive capital account or are there any tax provisions of excessive drawing
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