If partnership deed is silent

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1359 Points Posted on 03 February 2022
if partnership deed is silent interest on laon given to partner by firm is charged or not ???
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On 03 February 2022 at 11:34 Report
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Quick Summary
If your partnership deed doesn't specify interest on loans given by the firm to a partner, the Partnership Act 1932 applies. Under this act, charging interest is not mandatory. This means you have the option to charge interest or not, depending on the circumstances and agreement.

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Chartered Accountant
5010 Points Posted on 03 February 2022

You may not charge interest also. It is not mandatory

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On 03 February 2022 at 11:39
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Chief Accountant
3150 Points Posted on 04 February 2022
Than u can't pay interest or the partnership deed is silent on interest on partner's loan, then according to the Partnership Act of 1932,
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On 04 February 2022 at 20:56
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1359 Points Posted on 10 February 2022
Which section
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On 10 February 2022 at 22:03

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