Introduce of partner's capital
This query is : Resolved
29 December 2014
One of our client wants to make addition of partner in partnership firm with cash as partner's capital...Now our's query is.
1) is it possible to introduce with cash deposited as partner's capital?
2) If yes, then what is maximum limit for introducing capital with cash?
1) is it possible to introduce with cash deposited as partner's capital?
2) If yes, then what is maximum limit for introducing capital with cash?
29 December 2014
under partnership act 1932 there is no restirction for same and even there is no liit provided to it.
Message likes :
1 times
29 December 2014
In the above case the partner can bring in capital in form of cash. The source of cash should be legitimate and explained and disclosed in books of accounts / income tax returns of concerned partner. So far as the limit is concerned there is no limit on introduction of capital as cash by partner.
Message likes :
1 times
29 December 2014
partner can introduced the cash as capital. max amount as per his sources of income.
he have sufficient proof of cash introduced in partnership firm.
he have sufficient proof of cash introduced in partnership firm.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- SFT Cash Deposit in Current Account
- Annual return in Gst
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
