If Partnership Deed is silent on this issue then NO violation. In case PARTNERSHIP DEED restricts overdraft then it is a violation of mutual consent. On the date of such said to be overdraft the salaries and interest upto that date must be considered to know if it is a actually a Overdraft or not.
Dear Sir,
My problem is below how to calculate car Depriciation in 2011-12 f y
as per balance sheet Opening Balance is Rs 100000 (01/4/2011)
New car Purchase is Rs. 400000 (15/11/2011)
Old car sold Rs 250000 ( 10/10/2011)
so Please how to calculate depriciation and relpy as early as possible
dipak
dipak51157 @ yahoo.com
CAclubindia
