Question
90 Accountancy Illustration 14 Mohan, a partner in a firm, withdrew the following amounts during the year 2010. 2,000 Feb. 1 May 1 Jun.
90 Accountancy Illustration 14 Mohan, a partner in a firm, withdrew the following amounts during the year 2010. 2,000 Feb. 1 May 1 Jun. 30 5,000 2,000 Oct. 31 6,000 Dec. 31 2,000 The interest on drawings is to be charged @ 15% p.a. Assuming the accounting year closes on Dec. 31. Calculate the interest on drawings chargeable to the partner.
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Income Tax Fundamentals 2013
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