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प्रश्न
State giving reason whether interest on a loan given by a partner to the firm be paid if there are losses.
कारण सांगा
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उत्तर
Yes, interest on a loan given by a partner to the firm must be paid even if the firm incurs losses. Because, as per the Indian Partnership Act, 1932, interest on a partner’s loan is a charge against profits, not an appropriation. Hence, it is allowed irrespective of profit or loss.
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