Partnership
This query is : Resolved
10 February 2016
How much is the limit of drawings that a partner can withdraw???
Suresh Ramaswamy
(Expert)
13 February 2016
There is no limit on partners' drawings. However most partnership deeds have a restrictive clause and the firm is governed solely by its Partnership Deed and availability of cash. Most partnership deeds also have a clause charging interest to partner's who have overdrawn their capital.
However as per law there is no limit.
However as per law there is no limit.
Suresh Ramaswamy
(Expert)
14 April 2016
You are most welcome - this time I apologise as I had not logged in for about a week.
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