Question

In the absence of a Partnership Deed, the interest on a

Q: Answer-In the absence of a Partnership Deed, the interest on a partner's loan is allowed at:

As per the Indian Partnership Act, 1932, if the deed is silent, partners are entitled to 6 p.a. interest on any loansadvances made to the firm beyond their capital.

partner's loan is allowed at:

A 12% per annum.

B 10% per annum.

C 6% per annum.

D No interest is allowed.

E Market rate of interest.

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In the absence of a Partnership Deed, the interest on a

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