Multiple choice

As per provisions of the Partnership Act, executor is entitled to interest at ____% on the final amount due to the deceased partner.

  1. 4

  2. 6

  3. 8

  4. 7.5
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

According to the Indian Partnership Act, 1932, the executor of a deceased partner is entitled to interest at 6% per annum on the amount due to the deceased partner until the date of payment.

AI explanation

Section 37 of the Partnership Act allows the executor of a deceased partner to receive interest on the final settled amount. The statutory interest rate applied to this outstanding amount is 6 percent. Thus, the applicable rate is 6 percent.

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