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Payment of interest to partners in case of loss

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 August 2012 Please Advice Me
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
20 August 2012 Even in case of loss, the firm can pay the interest on capital to the partner and deduction of such interest will be allowed to the firm subject to the maximum of 12%pa
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Bharath Kumar

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Bharath Kumar (Expert)
20 August 2012 Firm can pay interest on capital even if it incurs loss.
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