banner_ad

interest on capital.

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 May 2009 i observe on partnership deed that partners of the firm mutually agrees to pay interest on capital @12% from 1.4.05.
now if some one of the partner withdraw more than its capital than is he is liable to pay interest on drawings.
Profile Image

CA Tilak Raj Sharma

Profile Image

CA Tilak Raj Sharma (Expert)
12 May 2009 Only if there was a provision in the deed for the same.
Profile Image

Rajes

Profile Image

Rajes (Querist)
12 May 2009 i had mention the statment from deed. so what u think from this.
Profile Image

Manmohan ACA, CS

Profile Image

Manmohan ACA, CS (Expert)
13 May 2009 No , since there is no mentioning in the deed about the interest of drawing ( i.e. excess drawing will be termed as interest on drawing and charged @...% clause is missing)

no intt. on drawing.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details