State the provisions of Indian Partnership Act regarding the payment of remuneration to a partner for the services rendered. Post category:Accountancy Reading time:1 mins read SOLUTION As per the Indian Partnership Act, in the absence of partnership deed, no remuneration is allowed to any partner for the services rendered. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostHow are mutual relations of partners governed in the absence of Partnership Deed? Next PostIs a sleeping* partner liable to the acts of other partners? You Might Also Like Give two examples of finance companies. October 4, 2022 What are the other names of liquid ratio? October 1, 2022 Following differences have arisen among P, Q and R. State who is correct in each case: (a) P used Rs. 20,000 belonging to the firm and made a profit of Rs. 5,000. Q and R want the amount to be given to the firm? (b) Q used Rs. 5,000 belonging to the firm and suffered a loss of Rs. 1000. He wants the firm to bear the loss? (c) P and Q want to purchase goods from A Ltd., R does not agree? (d) Q and R want to admit C as partner, P does not agree? (e) R had given loan of Rs. 1,00,000 to firm and demands interest @ 10% p.a. P and Q do not want to pay the interest. July 20, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Following differences have arisen among P, Q and R. State who is correct in each case: (a) P used Rs. 20,000 belonging to the firm and made a profit of Rs. 5,000. Q and R want the amount to be given to the firm? (b) Q used Rs. 5,000 belonging to the firm and suffered a loss of Rs. 1000. He wants the firm to bear the loss? (c) P and Q want to purchase goods from A Ltd., R does not agree? (d) Q and R want to admit C as partner, P does not agree? (e) R had given loan of Rs. 1,00,000 to firm and demands interest @ 10% p.a. P and Q do not want to pay the interest. July 20, 2022