Partnership deed

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2011 hi expert,

if there is provision in partnership deed regarding interest on partner's capital that interest on partner's capital should be paid @ 12 % so it is Compulsory to paid interest on partner's capital or not.....

if all partner's decide to not tack interest on there capital....without changing partnership deed.....

it is valid or not.........

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

13 September 2011 As per partnership act partners are eligible for getting maximum interest @12% subject to partner sheep deed. i.e. partners can get less than 12%. So there is no compulsory paid interest on partner's capital eventhough in the deed but depending on the mutual agreement of all the partners.
OM SAI SRI SAI JAI JAI SAI

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok