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Remuneration & capital interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 March 2012 I want to know when to pay remuneration & capital on interest of partner's capital ??

after book profit or before every provision ?
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
01 April 2012 U CAN PAY IT ANY TIME BUT ALLOWANCE OF REM AS DEDUCTION WILL DEPEND UPON BOOK PROFITS
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
14 April 2012 As per IT Act you cannot pay interest more than 1`2% and there should be book profit in the company
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