Interest calculation for partnership firm

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JEEVIKA AND CO (Querist)
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13 December 2017 Respected Sir / Madam,

One Partnership partner's capital accounts is AY 2016-17 (Opening Balance)...
Mr. Raman :
Capital Account - Rs. 200,000 (Capital Introduced)
Current Account - Rs. 65000 (Capital received from PandL past Years)

Mr. James kannan : Capital Account - Rs. 200,000 (Capital Introduced)
Current Account - Rs. 65000 (Capital received from PandL past Years) in this way
How to I calculate Capital interest and which amount...?
The 12% will calculated Rs. 265000...? or Any other calculations...?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 December 2017 1. If method of calculation is mentioned in the partnership deed,go with that.

2. If not mentioned, calculate on daily balance outstanding.

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JEEVIKA AND CO

JEEVIKA AND CO (Querist)
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13 December 2017 Thank you for the reply Sir...
In partnership deed it's shown 12%....
My doubt is how to calculate the interest....!
it's flat rate...?
How to calculate interest? please give some examples

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