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What is the rate of interest which can be allowed on Calls-in advance? - Accounts

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Question

What is the rate of interest which can be allowed on Calls-in advance?

Very Short Answer
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Solution

Interest may be allowed at 6% p.a., if provided in the Articles of Association.

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Chapter 6: Company Accounts - Issue of Shares - SHORT ANSWER QUESTIONS [Page 6.147]

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D. K. Goel Accountancy Volume 1 and 2 [English] Class 12 ISC
Chapter 6 Company Accounts - Issue of Shares
SHORT ANSWER QUESTIONS | Q 27. c | Page 6.147
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