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If partnerships deed is silent and …

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If partnerships deed is silent and profit given then IOC is charged or not

Posted by Pranjal Airy 6 years, 7 months ago

CBSE > Class 12 > Accountancy

3 answers

X Y 6 years, 7 months ago

No ioc is not given

Nikhil Sharma 6 years, 7 months ago

If partnership is silent then remember this 5 points :
1- No interest on capital.
2- No interest on drawing.
3- No salary, commission, remuneration to any partner.
4- Profit and losses to be shared equally amongst partners.
5- Inetrest on partners loan is to be provided@6 % per annum.

Ankit Yadav 6 years, 7 months ago

No

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