Regarding FIRM PARRTNER CASH DRAWINGS

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
Replies (2)
Quick Summary
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.

Per day cash withdrawal limit Rs. 200000
if you cross this limit, than penalty levied.
Ok thank u sir gd nt

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