Partnership firm in lending and borrowing business
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 April 2013
PLEASE LET ME KNOW THAT WHETHER A PARTNERSHIP FIRM CAN START BUSINESS OF FINANCING .
ALSO TELL THE RESTRICTIONS BY ANY LAWS i.e rbi aCTOR OTHERS IRT ITS OPERATIONS AND THE DIFFICULTY IT MAY FACE IN FUTURE.
WILL IT BE COVERED UNDER NBFC DEFINITION.
THE PARTNERS HAVE THEIR OWN FUNDS.
PLEASE DO REFER TO SECTION 45S OF RBI ACT AND
TELL ME THE NATURE OF BUSINESS TO WRITTEN IN THE PARTNERSHIP DEED.
i.e WHETHER FINANCING, LENDING OR BORROWING, FUNDING, ANY OTHER SUITABLE NAME.
ALSO TELL THE RESTRICTIONS BY ANY LAWS i.e rbi aCTOR OTHERS IRT ITS OPERATIONS AND THE DIFFICULTY IT MAY FACE IN FUTURE.
WILL IT BE COVERED UNDER NBFC DEFINITION.
THE PARTNERS HAVE THEIR OWN FUNDS.
PLEASE DO REFER TO SECTION 45S OF RBI ACT AND
TELL ME THE NATURE OF BUSINESS TO WRITTEN IN THE PARTNERSHIP DEED.
i.e WHETHER FINANCING, LENDING OR BORROWING, FUNDING, ANY OTHER SUITABLE NAME.
06 June 2013
You have to procure money landing licence duly approved by RBI
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
- Gst credit note by supplier
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- Movement of goods by packers and movers - type of sale - Reg.
- Wrong CMPo8 file
- GST on reimbursement of expenses
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
