| Sheet | Purpose |
|---|---|
| Cover | Firm details, PAN, deed date, AY/FY, and sheet index |
| 1. Assumptions | Central control panel — max rate (12% p.a.), FY start/end dates, days-in-year (auto), partner master list with agreed rates and deed authorisation flags |
| 2. Capital Account | Month-wise capital movement register (Apr–Mar) — opening capital, monthly additions, closing balance + separate withdrawal register |
| 3. Interest Computation | Period-wise interest using day-count method: Capital × Rate × Days ÷ Days-in-FY — separate rows per capital period per partner; cumulative running totals per partner |
| 4. S.40(b) Allowability | Condition check table (6 conditions) + partner-wise: interest claimed vs allowed vs disallowed + tax impact at 30% + cess |
| 5. Journal Entries | 4 ready-to-use journal entry templates — year-end accrual, disallowance adjustment, actual payment, TDS entry |
| 6. Partner Summary | Live KPI dashboard (total claimed / allowed / disallowed / tax impact) + partner-wise one-line summary with status flags |
| 7. Deed Compliance | 12-point checklist — deed clause verification, TDS compliance, SDT threshold check |
| 8. Law & Instructions | Full S.40(b)(iv) text, 5 landmark case laws (Malabar Industrial, Anil Hardware, K. Mohan & Co.), colour key, 8-step user guide |
Key features:
- Day-count method — interest auto-splits across periods when capital changes mid-year (e.g., addition in June creates two rows: Apr–Jun and Jul–Mar)
- Max allowed rate auto-caps at
MIN(agreed rate, 12%)— so Suresh Nair at 10% is correctly capped at 10%, not 12% - Deed authority flag — if deed doesn’t authorise interest (E = N), the entire interest becomes zero allowed
- Disallowance = MAX(0, claimed − allowed) with partner-wise and firm-level totals
- Tax impact computed at 30% + 4% cess per partner for clear visibility of cost of non-compliance
- All sheets cross-linked — change one capital figure in Sheet 2 and it flows through to the summary dashboard automatically
