Interest on capital and partners remuneration
GOPIKA BABU K (STUDENT) (21 Points)
23 May 2017GOPIKA BABU K (STUDENT) (21 Points)
23 May 2017
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 24 May 2017
If an agreement is there on both its good. Interest rate normally based on bank interest or the partners wishes to insist.
for example, if 1 lac paid which attracts interest calculation to be made & TDS to be deducted accordingly. So also for remuneration also to be paid every month as per terms and necessary TDS to be deducted & paid.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India