You are viewing the translated version of No Entitlement To Profit.
Section 23
No Entitlement To Profit
If a partner fails to pay the capital to be subscribed by him/her to the firm, he/she shall not be entitled to receive his/her profit until he/she pays the said capital
Partnership Act, 2020 (1964
Chapter - 2
Section 5: Firm To Be Registered In The Record Of The Concerned DepartmentSection 6: Matters To Be Set Out In An Application For The Registration Of Afirm And Fees For RegistrationSection 7: Name Of The FirmSection 8: Issuance Of A Certificate After Registration Of A FirmSection 9: No Need To Register Previous FirmSection 10: Approval Required To Change The ParticularsSection 11A: Concerned Department May Seek ParticularsSection 11B: Power To Cancel Registration
Chapter - 3
Section 12: Mutual Relation Of PartnersSection 13: Assets Of PartnershipSection 14: Use Of Property Of The PartnershipSection 15: No Compulsion For Additional CapitalSection 16: No Substitution Of PartnersSection 17: Every Partner May Participate In The BusinessSection 18: Entitlement To Have Access To And To Copy Of The Account Andbooks Of The FirmSection 19: Remuneration And InterestSection 20: Profit Derived By The Partner To Be The Property Of FirmSection 21: The Amount Paid By The Partners Shall Be Mentioned In TheaccountSection 22: Share Of Profit And LossSection 23: No Entitlement To Profit
Chapter - 5
Section 29: Dissolution Of A Firm (partnership)Section 30: Dissolution By NoticeSection 31: Firm May Be Dissolved At Any TimeSection 32: After The Expiry Of The Term The Firm Shall, Ipso Facto, Be DissolvedSection 33: Firm Shall Be Dissolved ImmediatelySection 34: Liability To Be Fulfilled Towards The Third PartySection 35: Participation Through AttorneySection 36: Continuing Authority Of Partners Even After DissolutionSection 37: Mode Of Settlement Of Account Between PartnersSection 38: The Assets Of The Firm Shall Not Be DividedSection 39: Appointment Of LiquidatorSection 40: Appeal