If the partnership deed is silent, at what rate, the interest would be charged on the drawings made by the partner:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 0%
If the partnership deed is silent, then according to the Indian Partnership Act, 1932:
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No interest is charged on drawings made by partners.
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Interest on drawings can only be charged if it is specifically mentioned in the partnership deed.