In the absence of a Partnership Deed, Interest on Capital
In the absence of a Partnership Deed, Interest on Capital
a) is allowed @ 6% per annum
b) is allowed @ 10% per annum
c) is allowed at the borrowing rate
d) is not allowed
Anurag Pathak Changed status to publish April 9, 2023
Ans – d)
Explanation:-
In the absence of a partnership deed. The provisions of the Indian partnership Act 1932 Apply. Thus interest is not allowed on the partner’s capital.
Anurag Pathak Changed status to publish April 4, 2023
