Question ID: 21363
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i am working for a company and i have a profit sharing agreement with them
. my percentage of profits that i receive is 20% of net profit,
i have not invested any money in the company, so while calculating the expenses the company deducts a 20% finance charge , which is basically 20% of the capital that they have invested in the business.

question 1) is this interest ?

question 2) if so, can this be offset against interest the company has earned ? ( obviously 20% of this income is also due to me)

jazaakalah as always for your assistance

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Asked on October 8, 2009 12:00 am
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Yes Yes.
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Answered on October 8, 2009 12:00 am