The sum due to the retiring partner (in case of retirement) and to the legal representatives/ executors (in case of death) includes: 

• credit balance of his capital account; 

• credit balance of his current account(if any); 

• his share of goodwill ; 

• his share of accumulated profits (reserves); 

• his share in the gain of revaluation of assets and liabilities; 

• his share of profits up to the date of retirement/death; 

• interest on his capital, if involved, up to the date of retirement/death; and 

• salary/commission, if any, due to him up to the date of retirement/death.

The following deductions, if any, may have to be made from his share:

• debit balance of his current account(if any); 

• his share of goodwill to be written off; if necessary; 

• his share of accumulated losses; 

• his share of loss on revaluation of assets and liabilities; 

• his share of loss up to the date of retirement/death; 

• his drawings up to the date of retirement/death; 

• interest on drawings, if involved, up to the date of retirement/death.