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DISSOLUTION OF PARTNERSHIP FIRM DOUBT

Others 405 views 1 replies

I would like to clear my doubt regarding interest on loan paid to a partner during dissolution of a partnership firm.

According to the indian partnership act 1932 if the partnership deed is silent about the interest rate about the loan by a partner we should consider it 6%. But when i search across the internet i get to see solutions in which interest on loan by a partner is not being calculated in the solution during dissolution of the firm. I would like to know it's treatment keeping CBSE boards pattern in mind. 

THANK YOU 

Replies (1)

Much depends upon the clause set in partnership deed, profit earned in the year and final settlement between partners.


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