Regarding FIRM PARRTNER CASH DRAWINGS

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B.SC
202 Points Posted on 13 August 2020
Good evening sir,
ASSUMING FIRM HAVING CASH ON TODAY IS OF RS 20,00,000/-.his investment in firm as on today is of Rs 45,00,000/-he
purchase site of of Rs 15,00,000/-.presently he has no cash. so he wants to draw cash from firm of Rs 1500000/-now my query is how he will draw cash from firm. at a time he can take 1500000 or daily 200000/- or Any mode please clarify
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On 13 August 2020 at 17:31 Report
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This discussion clarifies the process for a firm partner to withdraw cash. With Rs 20,00,000 in the firm and a personal investment of Rs 45,00,000, the partner wishes to draw Rs 15,00,000 for a site purchase. The key point is the daily cash withdrawal limit of Rs 2,00,000, with penalties for exceeding this amount.

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Article
207 Points Posted on 13 August 2020
Per day cash withdrawal limit Rs. 200000
if you cross this limit, than penalty levied.
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On 13 August 2020 at 20:02
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B.SC
202 Points Posted on 14 August 2020
Ok thank u sir gd nt
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On 14 August 2020 at 23:22

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