Int. on partners capital account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2014
If a partnership deed provides for 12% of interest on partners capital, and the partnership firm has net profits after allowing all expenses, then whether entire 12% interest on partners capital is allowed or not ???
The above interest is providing to all active and working partners only. is there is any other disqualification apply on int. on partners capital in the above case.
The above interest is providing to all active and working partners only. is there is any other disqualification apply on int. on partners capital in the above case.
08 September 2014
no disqualification ; interest is allowed.
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2014
Ok thanks for the prompt and positive response...
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