Sharing of profit

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abhi (Querist)
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08 February 2016 Hello Sir ,In a parnership firm , a party have invested a specific amount for business ,will he be a financing partner ? And whether the profits be distributed to party as ' interest ' . ??

Amol S Joglekar

Amol S Joglekar (Expert)
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08 February 2016 The choice is with the partners. They need to decide it MUTUALLY. It can partake any shape either interest or share in profit or both.

abhi

abhi (Querist)
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08 February 2016 Thank you sir for your reply.But if the financing party is not mentioned in partners deed as a partner ,whether profits can be distributed in same way ??

abhi

abhi (Querist)
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08 February 2016 Thank you Sir for your reply.But if the financing party in not mentioned as a partner in deed,whether the profits of firm can be distributed in same way..?

abhi

abhi (Querist)
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08 February 2016 Thank you Sir for your reply.But if the financing party in not mentioned as a partner in deed,whether the profits of firm can be distributed in same way..?

Amol S Joglekar

Amol S Joglekar (Expert)
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08 February 2016 No. In that case,, since the party is NOT a partner, and hence can not be the rightful owner of share of profit. (Please note that the method of calculation of interest may be based upon the amount of profit.)

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