Interest free loan to partnership firm

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Payal Sanghani (Querist)
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20 May 2016 Can a partner give interest free loan to the partnership firm? If yes, then is it mandatory to mention the clause in the the partnership deed.

Amol S Joglekar

Amol S Joglekar (Expert)
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20 May 2016 yes, partner may do so. Partner should see if the deed of partnership empowers the firm to accept loan from partners.

Rupesh Jain

Rupesh Jain (Expert)
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20 May 2016 its normally part of capital a/c its not a intt. free. its possible if it is mention in partnersip deep that
Rs..................... every partner keep in capital a/c and further if fund required then amount given by the partner to firm not consider for intt. given to partners.

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