Partnership Acs - Death of Partner - confusion of adjustment information

Accountancy

As per adjustment no. iv, interest is not payable in the current year due to death Then why has it been deducted from current years profit calculation

Aryan Choudhary

CA Foundation

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02-Dec-24 17:14

675

Answers (4)

Only for the partner who has died.

CA Suraj Lakhotia

Admin

02-Dec-24 17:54

CA Suraj Lakhotia Admin

Only for the partner who has died.

How could you ascertain that even with the lack of information?

Thread Starter

Aryan Choudhary

CA Foundation

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02-Dec-24 18:20

will not be payable in the year of death or retirement. Of course we can assume that it will not be payable to al partners. But logically, the continuing partners should get.

CA Suraj Lakhotia

Admin

03-Dec-24 14:27

CA Suraj Lakhotia Admin

will not be payable in the year of death or retirement. Of course we can assume that it will not be payable to al partners. But logically, the continuing partners should get.

okay sir got it, thanks a lot

Thread Starter

Aryan Choudhary

CA Foundation

★ 0

03-Dec-24 15:04