Partnership doubt
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2010
If a partner dies in the month of july(calender yr jan 1- dec 31 is adopted)
will he be eligible to receive the profits for the period of 6 months after providing for depreciation and other expenses?
will he be eligible to receive the profits for the period of 6 months after providing for depreciation and other expenses?
07 September 2010
The issue depends mainly on the specific clauses of the partnership deed. However, generally as per The Indian Partnership Act,1932 a partner is eligible to share the profit/loss upto the date of his/her death.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
29 September 2010
THANK U SIR
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