If there is no clarification in the partnership deed , then what rate of interest can be paid on partner's loan?
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If the Partnership Deed does not specify the rate of interest payable on loan by a partner, the rate at which interest on loan will be paid is 6 percent on any loan advanced by the partner to the firm. Interest on loan will be paid to the partners even if the firm incurs a loss.
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If the Partnership Deed does not specify the rate of interest payable on loan by a partner, the rate at which interest on loan will be paid is 6 percent on any loan advanced by the partner to the firm. Interest on loan will be paid to the partners even if the firm incurs a loss.
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