Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Int on Capital in absence of any clause in deed

This query is : Resolved 

We are a partnership firm of two partners. One partner has contributed more than 3/4th capital. In absence of any clause in partnership deed regarding interest on capital, can we give interest on capital to only one partner who has contributed most. This is will be as per mutual understanding of both partners, since profit of firm is very less , it being first year of the firm. Please advise. Thanks in advance

As there is no specific mention in the deed about the interest on capital, hence you cannot withdraw the same.

Sir if there is a clause in partnership deed of Interest on Capital of maximum of 12%, Is it mandatory to withdraw interest on capital ?

No it is not mandatory.

You could mail to for any further queries.

Bajaj Finserv

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Trending Tags
X GST Course