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Interest on drawing in partnership

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1359 Points Joined October 2021
does it is mandatory to charge interest on drawing in partnership in presence of deed
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On 05 November 2021 at 13:20 Report
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CA
10436 Points Joined March 2019
No interest is to be charged on the drawings made by the partners, if there is no mention in the Deed
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On 05 November 2021 at 14:01
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1359 Points Joined October 2021
If we mention that "interest on drawing is not charged "
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On 05 November 2021 at 14:04
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CA
10436 Points Joined March 2019
If you have nothing mentioned in the deed about interest on drawings, then you don't need to charge in. simple
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On 05 November 2021 at 14:06
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Chartered Accountant
24588 Points Joined November 2019
Interest on drawings should be charged as per deed mentioned
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On 07 November 2021 at 06:07

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