Q.As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is :

No deed → Partnership Act rules apply: only interest on loan @ 6% p.a. is allowed. Option (a).

Where partners have no agreement (deed), the provisions of the Indian Partnership Act, 1932 govern:

• No salary or commission to any partner.
• No interest on capital.
• Interest on a partner's loan to the firm is allowed at 6% per annum (this is a charge against profit).
• Profits and losses are shared equally. …

As per the Indian Partnership Act, 1932, interest on a loan advanced by a partner is allowed at 6% per annum.

Under the rules that apply in the absence of a partnership deed (Tamil Nadu HSC Commerce syllabus), most items follow default rules — no salary, no interest on capital, and equal sharing of profits. However, a loan given by a partner over and above his capital is treated as a genuine advance to the firm, so the Act specifically allows interest on it.

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The incorrect pair is (c) Interest on Drawings - Sec 13(d).

Section 13 of the Indian Partnership Act, 1932 lays down the default rules when the deed is silent (Accounts of Partnership Firms – Fundamentals, TN HSC Commerce):

When there is no deed, Section 13(d) of the Indian Partnership Act, 1932 allows interest on a partner's loan to the firm at 6% per annum.

A loan advanced by a partner to the firm is different from capital. Even where the deed is silent (or there is no deed), the Act protects the lending partner:

• Interest on such a loan/advance is payable at 6% per annum. …

Without a partnership deed, profits are shared equally among partners.

In the Tamil Nadu HSC Class-12 Accountancy syllabus, when there is no partnership deed (or the deed is silent), the provisions of the Indian Partnership Act, 1932 apply. Among these:

• Profits and losses are shared equally, irrespective of capital contributions.
• No interest is allowed on capital.
• No interest is charged on drawings. …

Without a partnership agreement, interest on capital is not allowed — option (b).

Where there is no partnership deed, or the deed is silent, the provisions of the Indian Partnership Act, 1932 govern. Among these default rules:

• No interest is allowed on capital.
• No interest is charged on drawings.
• No salary or commission is payable to any partner.
• Profits and losses are shared equally. …