MANISH KAPOOR (PARTNER) (97 Points)
10 July 2009Can a Private Limited Co. become partner in a Partner Ship Firm......If Yes Then the treatment if....
a)Out of Seven Directors Two Directors are also the partners in the Firm.
b)Can we give interest on capital & Partners Salary To the Pvt Ltd. Company
c)How is The Pvt Ltd. Company Show this Investment in his books of Accounts.
RAHUL
(Company secretary )
(226 Points)
Replied 15 July 2009
Dear manish
This is possiable and you have no problem in this regard If you want to full detail of laws & procedure contact me on my email.id. My email.id is nitinagarwal113 @ gmail.com
Regard
CSNITIN
Krishna Marathe
(Business)
(47 Points)
Replied 13 September 2009
SIr, We are having patnership firm(Trading) since 2 years, doing well, and now wanted to go for manufacturing by forming a private limited company to get more persons & fund. Please suggest tthe procedure or any CA who can provide to complete procedure. Thanks Krishna email: krishna.marathe @ gmail.com
Originally posted by :Ankur Garg
sivadas chettoor
(CA)
(2644 Points)
Replied 20 February 2010
A co can become a partner in a firm.
The fact that two directors are already partenrs in the firm do not make any difference.
Interest on capital can be given but on what basis salary is given is not understood. Salary is normaly a compensation for personal services.
The investment shall appear in the balance sheet as "invetments in the capital of firm...."
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