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Question
As per Section 37 of the Indian Partnership Act, 1932, the executors would be entitled at their choice to the interest calculate from the date of death till the date of payment on the final amount due to the dead partner at __________ p.a.
As per Section 37 of the Indian Partnership Act, 1932, the executors would be entitled at their choice to the interest calculate from the date of death till the date of payment on the final amount due to the dead partner at __________ p.a.
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Solution
The correct option is C 6%
The Indian partnership act has widely described about the partnerrship firms and its secction 37 has stated that if the company fails to pay the due amount amount to deceased partner's representative, it will have to pay an interest of 6% p.a. on the due amount. Moreover, it is the choice of represetative to decide the amount to be taken either due amount with interest or excess profits.
The Indian partnership act has widely described about the partnerrship firms and its secction 37 has stated that if the company fails to pay the due amount amount to deceased partner's representative, it will have to pay an interest of 6% p.a. on the due amount. Moreover, it is the choice of represetative to decide the amount to be taken either due amount with interest or excess profits.
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