Partners current capital a/c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2016 Dear Experts,
Plz solve...1) in partnership firm can we open both
Capital a/c capital a/c and current capital
A/c if yes...2) can we provide interest
On both capitals a/c capital and current
capital a/c if yes how much on current
capital a/c...3) assume in AY 2016-17 mr. X current
Capital a/c balance is 1 lakh CR. Weather
this 1 Lakh credit balance can be B/F
In AY 2017-18

Thanx & Regard
Vivek sonami

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 April 2016 1 & 2. If partnership deed contain a clause, you can do so.
3. Yes.

Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2016 Sir...1) can you please explain the clause
A in partner ship deed...2) how much maximum interest can be provide
On current capital a/c

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Rupesh Jain

Rupesh Jain (Expert)
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25 April 2016 you have to see the partnership deed. if current a/c provide in deed then you make current a/c other wise not possible. and regarding the interest also see the deed. you cannot go out of deed provision.

Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2016 Sir it is true No one cannot go out of deed
But i want to know on current capital a/c
How much maximum interest can be paid