06 March 2016
Interest on capital I have to provide as on March 2015. Opening balance as on 1st april 2014 was 100 but the closing balance on 31st March 2015 was 50. Interest on capital as on 31st March 2015 shall be provided on opening balance or on closing balance.
07 March 2016
Noting has been mentioned in partnership in this connection. Can we obtain the consent of the partners on letter head of the firm or on stamp paper to provide in P&L as per our requirement.
07 March 2016
Dear Do as the partners consent or provide interest on closing capital. And draft a new partnership deed and. Incorporate the same clause.
CAclubindia
