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How many people have Ferrari in India what is name?
any people have ferrari in India
Is there any skyscraper in India?
yes in Mumbai skyscraper is going to be built, the name is india tower
What is the fullform of India?
The fullform of India is known as Mroflluf Aidni by the natives
What service does the Akin Gump law firm offer?
"The Akin Gump law firm is a large, viable, and successful law firm that helps client with any needs that requires an attorney or involves any legal issues."
What is the difference between India Ltd and India Pvt Ltd?
It is not mandatory to name the company with "India Ltd" or "India Pvt Ltd. If the company is a Public Limited Company (i.e. the shares of the company is listed with any of the Stock exchanges in India), the Company's name shall end with "Ltd or Limited". If the shares are not listed and privately held, the company name shall end with "Pvt Ltd or Private Limited". Some companies while naming their company for their own reasons add "India" to their company name.
Is a partnership firm has any legal entity?
No, a partnership firm has no legal entity. Registering the partnership firm means registering the partnership relation. firm has no separate legal entity.
What is the capital required to start a Partnership firm?
There is no limit on the minimum capital for starting a Partnership firm. Therefore, a Partnership firm can be started with any amount of minimum capital.
Under what circumstances a partnership can come to an end?
Partnership can come to an end by the following reasons. If they mentioned the validity to be a partner in the firm, under the partners mutual willingness to terminate himself from de partnership and if any partner misbehavied in a firm others can revoke that partner from the firm
Meaning of partnership firm?
Partnership is "The relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all". Hence the persons who form the partnership are called 'partners' individually and a 'Firm' collectively
How can I transfer my Partnership firm?
There are restrictions on the transfer of ownership interest in a Partnership firm. A Partner cannot transfer his/her interest in the firm to any person (except to the existing partners) without the unanimous consent of all other partners.
What are the advantages of a Registered Partnership firm?
Only a registered Partnership firm can file a suit in any court against the firm or other partners for the enforcement of any right arising from a contract or right conferred by the Partnership Act. Also, only a Registered Partnership firm can claim a set off (i.e. mutual adjustment of debts owned by the disputant parties to one another) or other proceedings in a dispute with a third party. Hence, it is advisable for Partnership firms to get itself registered sooner or later.
What are the legal restrictions of starting a partnership firm?
A Partnership firm is not subject to excessive legal restrictions; therefore it enjoys freedom in administration. It is not required to file its annual accounts with the Registrar each year unlike a Limited Liability Partnership or Company. It can be easily dissolved. Any partner can give 14 days' notice to other partners and dissolve the firm with the consent of other partners. There is no requirement for audit of the accounts of a partnership firm annually as a Partnership firm is not required to file audited financial statements with the Ministry of Corporate Affairs each year. However, tax audit may be required for a Partnership firm if the turnover exceeds prescribed limits.
What is the meaning of dissolution of firm?
Dissolution of partnership and Dissolution of firm are two different terms.Dissolution of partnership means termination of existing partnership agreement and the formation of a new agreement which can be due to any reason like admission of a new partner or death or retirement of an old partner. In the case of dissolution of partnership the remaining partners may agree to carry on the business under a new agreement.Whereas Dissolution of Partnership firm means that the firm is closing down its business. In the case of dissolution of firm the Assets of the business are sold, Liabilities are paid off and the accounts of the partners are settled out
What is the difference between dissolution of partnership and dissolution of firm?
Dissolution of partnership refers to the termination of a partnership agreement between partners, while dissolution of a firm is the process of ending the entire business entity, including its legal existence. Dissolution of partnership may result in the business continuing with remaining partners or winding up, while dissolution of a firm involves liquidating assets and settling debts before formally closing the business.
What is Partnership according to the partnership act 1932?
The Indian Partnership Act, 1932 is an act enacted by the Parliament of India to regulate partnership firms in India. It received the assent of the Governor-General on 8 April 1932 and came into force on 1 October 1932. Before the enactment of this act, partnerships were governed by the provisions of the Indian Contract Act. The act is administered through the Ministry of Corporate Affairs. The act is not applicable to Limited Liability Partnerships, since they are governed by the Limited liability Partnership Act, 2008.DefinitionSection 2 of the act defines, (a) an "act of a firm" means any act or omission by all the partners, or by any partner or agent of the firm which gives rise to a right enforceable by or against the firm;(b) "business" includes every trade, occupation and profession;(c) "prescribed" means prescribed by rules made under this Act; (c-1) "Registrar" means the Registrar of Firms appointed under sub-section (1) of section 57 and includes the Deputy Registrar of Firms and Assistant Registrar of Firms appointed under sub-section (2) of that section;(d) "third party" used in relation to a firm or to a partner therein means any person who is not a partner in the firm; and(e) expressions used but not defined in this Act and defined in the Indian Contract Act, 1872, shall have the meanings assigned to them in that Act.Partnership refers to an agreement between persons to share their profits or losses arising on account of actions carried by all or one of them acting on behalf of all. The persons who have entered such an agreement are called partners and give their collective business a name, which is necessarily their firm-name. This relation between partners arises out of a contract or an agreement, which means a husband and wife carrying on a business or members of a Hindu undivided family re not into partnership. The share of profits received by any individual from the firm, money received by a lender of money, salary received by a worker or a servant, annuity received by a widow or a child of a deceased partner, does not make them a partner of the firm.
What is a partnership company?
Indian partnership act of 1932. Sec-4 of this act defines partnership as "A relationship between persons who have agreed to share their profits and losses of a business carried on by all or any of them acting for all".
Can other people invest in a Partnership firm?
In a partnership firm, the ownership and investment structure differ from that of joint-stock companies. In a partnership, the business is typically owned and operated by two or more individuals who are known as partners. Unlike joint-stock companies, partnerships are not publicly traded on stock exchanges, and the ownership interests are not represented by shares of stock. In a traditional partnership, the ownership is limited to the partners themselves, and external individuals cannot invest in the partnership firm by purchasing shares or stocks. The partners usually contribute their capital, skills, or resources to the partnership when it is formed. The profits and losses of the partnership are shared among the partners based on the agreed-upon terms. However, it's important to note that there are other business structures that may resemble partnerships but allow for external investment. For example, a limited partnership (LP) or a limited liability partnership (LLP) may allow for the inclusion of additional investors, known as limited partners. In such cases, these limited partners contribute capital to the business but typically do not have involvement in the day-to-day operations or decision-making processes. The liability of the limited partners is limited to the extent of their investment. It's advisable to consult with legal and financial professionals to understand the specific laws and regulations governing partnerships in your jurisdiction and to explore alternative investment structures that may be available.
