Loan from a partner

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Querist : Anonymous (Querist)
14 October 2012 Can a partner of the firm lend money to the firm in which he is a partner and charge interest?

14 October 2012 Yes it can do so. however partnership deed needs to checked for restrictions if any in this regard.

14 October 2012 also interest must not be exceed 12% p.a.


14 October 2012 No, if its a capital then interest must not exceed 12%, in case its a Loan and partner is able to justfy the same on account of market rate and other consideration then he can also charge higher interest. Subject to terms of Partnership deed

14 October 2012 Thats true CA Shrinivas...



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