Provision in absence of Partnership deed

 Indian Partnership Act, 1932

◦ Share of Profit & Losses=====================Equally
◦ Interest on Capital =========================Not Paid
◦ Interest on Drawings =======================Not Paid
◦ Interest on Loan by Partner==================@6% pa (Charge
against profit, it means interest is payable even if there is loss)
◦ Remuneration/ Commission to Partners=============Not Paid