Question

If partnership deed is silent on the profit sharing ratio; interest@_________
per annum is allowed on loans advanced by partners.​

Answer 1

Answer:

if partnership deed is silent on profit sharing ratio interest at 6% per annum is allowed on loan advanced by partner

Answer 2

Answer:

• @ 6%.

If partnership deed is silent on the profit sharing ratio interst is @ 6 % per annum is allowed on loans advanced by partners.

In the absence of partnership deed or if the deed is silent on any matter the partnership Act 1932 provides the

• Interest on loan to the firm :-

Partners is entitled to get interst @ 6% PA on loans advanced by the partners. It should be paid even if there is loss.

Partnership Deed

It is th document which contains the terms of partnership as agreed by the partners. It can be either oral or in writting but it is desirable to have it in writing to avoid any misunderstanding in future.