WHAT IS THE TREATMENT OF NEGETIVE CAPITAL ACCOUNT OF ONE PARTNER IN PARTNERSHIP?
WHAT IS THE REPORTING REQUIREMENT AND TAXATION IF ANY
2 Replies
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 08 April 2019
If partner's capital will fall under negative then it will be shown under Current Asset in the BS...
Noor arora
(student)
(126 Points)
Replied 09 April 2019
ok sir..is there any legal provision which prohibits negetive capital account or are there any tax provisions of excessive drawing
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