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Interest on drawing in partnership
does it is mandatory to charge interest on drawing in partnership in presence of deed
Replies (4)
Quick Summary
No interest is to be charged on the drawings made by the partners, if there is no mention in the Deed
If we mention that "interest on drawing is not charged "
If you have nothing mentioned in the deed about interest on drawings, then you don't need to charge in. simple
Interest on drawings should be charged as per deed mentioned
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