Partnership

Accounting

Easy

common

If partnership deed is silent, what is the interest on capital payable to the partners?

6% p.a

5% p.a

No Interest is paid

10% p.a

✅ Correct Option: 3

Under the Indian Partnership Act, 1932, in the absence of a partnership deed no interest on capital is allowed to any partner. The $6\%$ p.a. rate applies only to interest on a partner's loan to the firm, not on capital.

2026: 29 May Shift 1

The partnership deed of a partnership firm includes:

(A) Salaries and Commission payable to partners

(B) Rules regarding the operation of bank accounts

(D) The Accounting period of the firm

Choose the correct answer from the options given below:

2023: 20 June Shift 2

Salary of a partner is shown in

2025: 15 May Shift 2

Which of the following entry shows withdrawal of excess capital by partner's ?:

2025: 3 June Shift 2

Which among the following is NOT true?

2025: 13 May Shift 1

Calculate Interest on drawings for the amount of Rs. 3000 drawn on September 30, 2019

2022: 20 Aug Shift 2

Match List I with List II

List I	List II
A. Partner's Salary	I. P & L A/c Dr.
B. Manager's Salary	II. P & L Appropriation A/c Dr.
C. Distribution of Loss	III. P & L A/c Cr.
D. Commission Received	IV. P & L Appropriation A/c Cr.

Choose the correct answer from the options given below:

If partnership deed is silent, what is the interest on capital payable to the partners?

Solution

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