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Limit of Cash Withdrawal Partners
What's the limit cash withdrawal limit for partners from partnership firms.
Replies (4)
As per act there is no such withdrawal limit but one can refer to deed to determine partners limit.
There is No Limitation Regarding Withdraw of Cash by partner in Partnership Firm, it will be like a loan to partner by firm.
individual cash balance as per balancesheet Rs.40 lakhs, Can we transfer to parnership concern for Rs.38 lakhs by cash on various dates.
individual cash balance as per balancesheet Rs.40 lakhs, Can we transfer to parnership concern for Rs.38 lakhs by cash on various dates.
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