Identify the section of the Indian Partnership Act, 1932, that states that the outgoing partner has an option to receive either interest @ 6% p.a till the date of payment or such share of profits which
has been earned with his/her money.
(
This question was previously asked in
Shift 07/06/2023 3:30 PM - 6:30 PM
A
Section 2
B
Section 32
C
Section 7
D
Section 37
Correct Answer
Section 37
Detailed Explanation
The correct section of the Indian Partnership Act, 1932, that states that the outgoing partner has an option to receive either interest @ 6% p.a. till the date of payment or such share of profits which has been earned with his/her money is Section 37.
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