Hello Friends.

Situation: One of my client is a partnership firm which was having four partners. Out of that one partner died and out of remaining three partners one partner desires to retire and the other two partners wants to continue the business by admistting widow of the deacsed partner as a full time partner in the firm. There is clause in old deed that in case of death or retirement of a partner the firm is not desolved and the remaining partner can continue the firm business.

Requrement

Format of a single deed containing all three situation

1. Death of a partner

2. Admission of widow of the deceased partner and;

3. Retirement of a partner.

Regards,

CA. Nirav Samani

What is meant by Time Barred Debt?

Please let me know the penalty in case of non compliance of Section 297 in this particular case as mentioned below if any:

X,Y & Z are director in XYZ Ltd as well as in ABC ltd.


(1)If XYZ Ltd had purchased some goods from ABC Ltd on credit on regular basis & make payment through cash & cheque at the prevalling market rates.

(2)If XYZ Ltd had purchased some goods from ABC Ltd on credit on regular basis & make payment through cash & cheque at the prevalling market prices. The amount of contract is of Rs. 3 crores approx.

Please refer some cases for ready reference
Waiting for your early response.

Thanx
Regards
Shyam Gupta

Hi Friends,
Can any one clarify 2 thing

there is 1 section in PF act , that allows Employer to Pay PF only on basic salary + DA of Rs 6500 ( it means there is a Cap of rs 6500 whether the employee is getting higher salary than rs 6500)
employer has to contribute only Rs 780 (6500*12%)
can any one tell me the relevant section ?

& 2nly there is 1 more thing , in PF act , there is one more option is available to Employees , if the employees having the basic salary of more than 15000, then the company can give him the option , whether he want to opt PF act or not to opt
can any one tell me the relevant section ?

waiting for your positive reply

Thanks in advance

What is the difference between license agreement and leave & license agreement? Can there be a sub sub license agreement, if the licensor agrees?

C.A A.K.Maitra

Respected Experts
How to admit a new partner into a partnersh? Is it making of sheet of amendment? again is the said sheet is to be registered under notary again? & if the deed is already registered under partnership act then is the same process is again to be followed or not? what will be the amount of stamp duty to amend in west bengal
Thanks
Debashis Mandal

In case of NGO, if the donations from foreign contributions is received, how much maximum the NGO firm can utilize for their admin expenses like salaries, travel expenses, maintenance, etc.? Is there a limit , ( example,say upto 10 % or 20% only ) for overheads of NGO firm out of donations received from foreign contribution or local fund received as donation or contribution etc.

what do you mean by rule of law?

IN MY CASE FIRM PROPERTY SOLD BY ALL THE PARTNERS AND THEY HAVE BEEN PAID THE AMOUNT AS PER THEIR PROFIT SHARING RATIO.THE CAPITAL GAIN TAX PAID BY DD AND THE AMOUNT HAS BEEN MENTIONED AS PER RATIO BASIS IN SALE DEED. SOME OUTSIDERS COMPLAINS THAT THE FIRM CAN NOT SOLD THE PROPERTY TO LAND REVENUE AUTHORITIES. WE WANT SOME MATTERS IN THIS REGARD TO SUBMIT OUR EXPLANATION THAT THE ALL THE PARTNERS CAN SALE THE PROPERTY. IT IS THEIR IMPLIED AUTHORITY TO SALE OR PURCAHSE OF FIXED ASSETS AS PER THEIT MUTUALLY CONSENT
I REQUIRED AN ANSER WHICH I CAN PRODUCE BEFORE THE LAND REVENUE AUTHORITY

Hi i want to ask what is the diffcilty or what is the problem if we give our premise on rent to one person for more than 10years?what is the problrem faced by person to whom we have given if he changes to another name?can u provide for many years lease agreement should be done?