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a) As per capital ratio
b) Equally
c) As per seniority
d) None of the above
If there is no partnership agreement the profits will be share equally.
the profit should be destribute equally
Profit will be distributed among the partners equally. The right answer is option-b.
Profits will be shared equally
equally s the right answer
Option (B) Equally is the rite answer
Hello Team,
As we know from the previous discusion that it is not cumpulsory to have a partnership deed for a partnership firm. Hence if a firm is not having any written agreement or a partnership deed or if partnership deed is there but it is silent on certain issues the following provisions of the Indian Partnership Act 1932 will be applicable.
1. Profit sharing Ratio : Profits and losses would be shared equally among partners.
2. Interest on capital : No interest on capital would be allowed to partners. If tehre is an agreement to allow interest on capital it is to be allowed only in case of profits.
3. Interest on drawings: No interest on drawings would be charged from partners.
4. Salary: No salary or commission is to be allowed to partners.
5. Interest on Loan : If apartner has provided any Loan to the firm, he would be paid Interest at the rate 6% p.a. This interest on laon is a charge against profits i.e. it is to be allowed even if there are losses to the firm.
6. Admission of a new partner: A new Partner can be admitted only with the consent of all the existing partners.
7. Right to participate in the business: Each partner has a right to participate in the proceedings of the business.
8. Inspection of the accounts of the firm: Each partner has the right to inspect the accounts of the firm and can have a copy of the same.
Any of the above provisions can be changed by the partners after an agreement.
Regards,
Saiyid
If there is no partnership deed, the profit should be distributed, As per capital ratio.
Anyway, if all partners hasn't shared the effort equally, then the effort put on business also should consider with investment.
If there is no partnership deed, the profit will be shared by the partners as per capital ratio
Without partnership deed, profit will be shared equally between partners. Becasue otherwise there will be always quarrel and fight between partners
