Question
Tapan and Mirza are partners in a partnership firm without any agreement. Tapan has given a loan of Rs. 50000 to the firm. At the
Tapan and Mirza are partners in a partnership firm without any agreement. Tapan has given a loan of Rs. 50000 to the firm. At the end of the year, the loss was incurred in the firm. What percentage of interest shall be paid to Tapan by the firm?
- 12 % Per Annum
- 14 % Per Annum
- Due to loss incurred in the business, interest cannot be paid
- 6 % Per Annum
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
