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Transcript

Rule for Interest on Capital Proprietorship Proprietor Invest Capital in Business Can he take Interest on this Capital from Business Not Allowed As Proprietorship and Proprietor are Same Legal Persons) Partnership Partner Invest Capital in Business Can he Take Interest on this Capital from Business Allowed As Partnership and Partners are Different Legal Persons) Conditions Allowed in Case of Audit Case Only Allowed to both Working and Non Working Partner Max 12% interest on Allowed

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.