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rate of interest

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26 June 2008 if partners decide to charge interest on drawings and give interest on capital in partnership deed but no rate is decided, what rate should be taken?

jaygulani (Expert)
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26 June 2008 As per Partnership Act 1932, rate of interest in above condition is not given. So 6% p.a. can be applied, since 6% p.a. is applied on interest on partner's Loan.

jaygulani (Expert)
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26 June 2008 As per Partnership Act 1932, rate of interest in above condition is not given. So 6% p.a. can be applied, since 6% p.a. is applied on interest on partner's Loan.

PC-www.bharadwajinstitute.com

PC-www.bharadwajinstitute.com (Expert)
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28 June 2008 No interst on drawings and capital if the deed is silent

but int on loan will caryy 6% p.a

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