Question

As per Section 37 of the Indian Partnership Act, 1932, interest @ ______ is payable to the retiring partner if full or part of his dues remain unpaid.

Options

• 9% p.a.

• 12% p.a.

• 6% p.a.

• None of these

Answer 1

As per Section 37 of the Indian Partnership Act, 1932, interest @ 6% p.a. is payable to the retiring partner if full or part of his dues remain unpaid.

Explanation:

If the retiring partner's dues are not paid in full or in part, interest at the rate of 6% per annum is payable under section 37 of the Indian Partnership Act, 1932.