Interest on drawing in partnership

05 November 2021

does it is mandatory to charge interest on drawing in partnership in presence of deed

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4 Replies

CA Aakarsh Jain (CA) (10336 Points)
Replied 05 November 2021

No interest is to be charged on the drawings made by the partners, if there is no mention in the Deed

Atharv Sankliya (1323 Points)
Replied 05 November 2021

If we mention that "interest on drawing is not charged "

CA Aakarsh Jain (CA) (10336 Points)
Replied 05 November 2021

If you have nothing mentioned in the deed about interest on drawings, then you don't need to charge in. simple

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 07 November 2021

Interest on drawings should be charged as per deed mentioned

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