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18 August 2011 Can a partnership firm paid interest on capital without any written language at partnership deed ?

If in a partnership deed written for interest on capital 12 % p.a., But the year the firm can't arrange any sufficient profit to pay right interest on capital. So what is the treatment.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
18 August 2011 As per section 4 of the Partnership act, the Interest will be provided only if the clause mentioned in partnership deed otherwise not interest on capital allowed

Even if provided in partnership deed, it will be provided only in case of profit not in loss
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