Can a partner withdraw money from partners current account

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1359 Points Posted on 16 November 2021
can a partner withdraw money from partner's current account which have credit balance (opening) without internet on drawing
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On 16 November 2021 at 14:42 Report
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Generally, a partner can withdraw money from a partnership current account if it has a credit balance, provided the partnership agreement allows it. However, interest on drawings may be charged if a partner withdraws their expected share of profit before the financial year's accounts are closed.

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SEO Sai Gr. Hosp.
212453 Points Posted on 16 November 2021

Yes, subject to conditions stipulated in partnership deed.

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On 16 November 2021 at 15:38
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1359 Points Posted on 16 November 2021
But interset on drawing charge only if owner withdraw his expected share of profit before closing of book of account
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On 16 November 2021 at 15:42

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