Suresh and Ramesh are partners in a firm with a capital of ₹ 3,00,000 and ₹ 4,00,000 respectively.
Suresh and Ramesh are partners in a firm with a capital of ₹ 3,00,000 and ₹ 4,00,000 respectively. They do not have a Partnership Deed. Ramesh wants to share profits in the ratio of capital. State with reasons whether his claim is valid.
Anurag Pathak Changed status to publish April 9, 2023
Answer:-
No Ramesh’s Claim is not valid as in the absence of a partnership Deed, profit sharing is guided by the Indian Partnership Act, 1932. The act provides for sharing profits equally.
Anurag Pathak Changed status to publish April 9, 2023
