Interest free loan to partnership firm
This query is : Resolved
Payal Sanghani
(Querist)
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
(Expert)
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
(Expert)
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.
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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