Accountancy, asked by nikitabajpai199, 1 year ago

interest on capital to partner is allowed @ 12% its true or false....

Answers

Answered by sujiritha95
2

The statement is false

Reason :
As per partnership act , if partnership deed is silent on interest on capital , then interest on capital is not allowed to partners. And as per act partners decide their rate its their wish and decided mutually . No specific rate given in the act

Therefore intrest on capital is not 12%. Any rate can be decide by partners mutually and mentioned n deed
–-------–--------------------------------------------


nikitabajpai199: tysm.....its rght
sujiritha95: Welcome
Similar questions