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Can a partner freeze the bank accounts of a partnership firm?
yes
What are the rights and liabilities of a minor in a partnership firm?
In a partnership firm, a minor cannot be a full partner but can be admitted to the benefits of the partnership. They have the right to share in the profits but cannot be held personally liable for the debts of the partnership beyond their share of the profits. Additionally, a minor's agreement can be ratified upon reaching the age of majority, allowing them to assume full rights and liabilities as a partner. However, they cannot participate in the management of the firm until they become a major.
What is the rate of tax for partnership firm?
A partnership computes its income and files its return in the same manner as an individual. However, certain deductions are not allowed to the partnership.Go to the IRS.gov website and use the search box for Tax Information For Partnerships Partnership Income or Loss
Taxation advantages in partnership?
are you talking about buisiness mergers, or marriage, or perhaps a buisiness partner, like in a law firm?
Examples of personal liability exposures and how they give rise to legal liability?
examples of joint,several and individual liability of partnership firm
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.
How many people are required to start a Partnership firm?
A minimum of two Persons is required to start a Partnership firm. A maximum number of 20 Partners are allowed in a Partnership firm.
Name of any partnership firm in India?
State Bank of India is one example of a partnership firm in India.
How do you register the name of a Partnership firm?
If the Partnership firms are business entity that are owned, managed and controlled by one person. So Partners cannot be inducted into a Partnership firm.
Can a non resident become a partner under the Indian Partnership Act 1932?
can a non resident indian become a parter in partnership firm as per Indian Partnership firm.
How do you open a bank account for a Partnership firm?
To open a bank account for a Partnership firm, a registered Partnership deed along with identity and address proof of the Partners need to be provided.
Can a partnership firm give gift to a person through a registered gift deed?
If all the partners agree, then gift can be given by the partnership firm.
What are the aims and objectives of partnership firm?
The aims and objectives of a partnership firm is to provide a service and be successful. All businesses have the same objective and that is to survive.
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
What is sole partnership?
It is when a firm has the whole thing!!
What does lcc firm mean?
LCC firm refers to a business company or organization which has the characteristics of a partnership and a corporation. It does not matter whether the partnership is a sole proprietorship or not.
