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Partner introduce cash by his personal capital

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Account and Tax consultant
124 Points Posted on 27 August 2019
Hello All,

1.Can partner introduce cash in partnership firm from his personal capital and not by cash balance from his personal Balance sheet?

2. What is limit per day or year for the same?

Thanks in advance.

Virag Shah
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On 27 August 2019 at 15:22 Report
Replies (4)
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17264 Points Posted on 27 August 2019
Better to introduce by cheque. Any cash partner can bring in but same amount he can route through his ban account.
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On 27 August 2019 at 15:33
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Account and Tax consultant
124 Points Posted on 27 August 2019
Thanks for the reply.

One of our client has already made cash expenses of 4-5 lacs by cash to his new partnership firm.Now what to suggest?
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On 27 August 2019 at 15:36
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17264 Points Posted on 27 August 2019
Now credit it as capital introduced by partner in the form of expenses made my him for firm
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On 27 August 2019 at 17:30
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Account and Tax consultant
124 Points Posted on 27 August 2019
ok... thanks
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On 27 August 2019 at 17:31


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