Interest on drawing in partnership
Atharv Sankliya (1359 Points)
05 November 2021
does it is mandatory to charge interest on drawing in partnership in presence of deed
4 Replies
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 05 November 2021
No interest is to be charged on the drawings made by the partners, if there is no mention in the Deed
Atharv Sankliya
(1359 Points)
Replied 05 November 2021
If we mention that "interest on drawing is not charged "
CA Aakarsh Jain
(CA)
(10431 Points)
Replied 05 November 2021
If you have nothing mentioned in the deed about interest on drawings, then you don't need to charge in. simple
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 07 November 2021
Interest on drawings should be charged as per deed mentioned
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