| Question And Answer | |
|---|---|
| Subject: | capital includes current account and loans given by the partner |
| Category: | Income-Tax |
| Querist: | L S Venkataramanan |
| Answered by: | Law Intern |
| Tags: | partnership firm |
| Date: | April 1, 2026 |
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Loans are not included as they are repayable with or without interest and have a debtor-creditor relationship. However, current account which comprises of share of P&L, salary, interest etc can be regarded as part of capital.
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