LIABILITY OF PROPRIETOR FIRM IN NAME OF HUF.
1) IN CASE OF LOSS ,
2)IN CASE OF ANY GOVT LIABILITY ,
3 )LOSS IN SHARE IN PARTNERSHIP IN WHICH KARTA IS PARTNER
EXAMPLE LOSS AMOUNT -10 LAC
NOTE : HUF DONT HAVE ANY PROPERTY OF ITS OWN BUT ONLY SMALL CAPITAL OF 100000 IN BANK SO HOW IS KARTA ,COPARENCER AND MEMBER WILL BE LIABILITY TO PAY ABOVE LIABILITY
That means balance 9 lac will be paid by all karta and co-pa and member in respective ratio
PARV & Co.
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CA Inter
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Kothari Jain Patil & Chartered Accountants
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CA Inter
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Saini Pati Shah & Co LLP, Chartered Accountants
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CA Foundation
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KK & Company Chartered Accountant
Pune
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CCI
Pro
CAclubindia
