at the time of retirement of partner from partnership firm the firm didn't pay the amount to him.
can he claim share of profits from firm till his amount is paid??
if so in which ratio he can gain??
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PARTNERSHIP
Replies (1)
After the retirement from Partnership firm, Partner can't asked for profit earned after his/her retirement, he/she can asked for share in profit up to his retirement along with his capital ect.
If amount not paid to Partners than that will be treated as loan to firm, and Partner can claim that amount along with interest from firm.
If amount not paid to Partners than that will be treated as loan to firm, and Partner can claim that amount along with interest from firm.
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