X and Y are partners in the firm. State which of the following claim is valid if the partnership agreement is silent in the following matters:

1. X wants monthly remuneration of Rs. 50,000.

2. Y claims Interest on loan @ 9%.

3. X wants interest on capital @ 6%.

4. X has contributed Rs. 50,000 and Y Rs. 80,000 as capital. X claims equal share in profits.

X has contributed Rs. 50,000 and Y Rs. 80,000 as capital. X claims equal share in profits.

Correct answer: Option (4) → X has contributed Rs. 50,000 and Y Rs. 80,000 as capital. X claims equal share in profits.

Concept: When the partnership deed is silent, the provisions of the Indian Partnership Act, 1932 apply, as listed in Accounting for Partnership: Basic Concepts.

Profits and losses are shared equally irrespective of capital contributed, so X's claim to an equal share despite unequal capital is valid. The other claims fail: no partner is entitled to salary/remuneration unless the deed provides it; interest on a partner's loan is allowed only @ 6% p.a., not 9%; and no interest on capital is payable when the deed is silent.