Is it necessary to have profit to give interest on capital to partner?
In other wards, can we claim loss due to interest on capital to partners if rate is within limit i.e. less than 12%.
2 Replies
Sanjib Kumar Mondal
(Passionate Learner)
(117 Points)
Replied 30 May 2018
For payment of Interest on capital to partners it is required that a firm has sufficient profits.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 30 May 2018
Yes... You can apply or You can leave.
No more restriction.
No more restriction.
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