Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Corporate Law : Learn the step-by-step process for partnership firm registration in India. Understand legal requirements, key documents, and compl...
CA, CS, CMA : The Finance Act 2024 revises partner remuneration limits under Section 40b, effective from FY 2024-25. Clarifications on TDS and p...
CA, CS, CMA : In a partnership, compensation for the partners’ time, expertise, and capital investment is an important part of the busines...
Corporate Law : Learn the simple steps to register a partnership firm under the Indian Partnership Act, its advantages, disadvantages, documents r...
Income Tax : Finance Bill 2024 proposes increasing the deduction limit for working partner remuneration to Rs. 3,00,000 or 90% of book profit, ...
Income Tax : From April 1, 2025, firms must deduct 10% TDS on payments to partners exceeding Rs 20,000 annually, under new Section 194T of the ...
Corporate Law : KSCAA presents a representation highlighting the challenges faced in registering firms and suggests solutions. Read more about the...
CA, CS, CMA : ICAI Committee on, Economic, Commercial Laws & Economic Advisory is forming a Study Groups for the subject – RoF Related Issues ...
Corporate Law : Supreme Court affirms that property contributed to a partnership firm becomes firm property, denying exclusive rights to legal hei...
Company Law : NCLT Hyderabad dismissed the application filed under section 9 of the Insolvency and Bankruptcy Code, 2016 for initiation of CIRP ...
Income Tax : Kerala High Court rules on capital gains tax for transfer of depreciable assets in PVR Tourist Home Vs CIT. Read the full judgment...
Corporate Law : Supreme Court ruling clarifies legal heirs' non-liability for firm debts after partner's demise. Detailed analysis & judgment over...
Income Tax : Explore the case of Bhagwan Laxman Rokde Vs ITO (ITAT Mumbai) regarding validity of reopening u/s.147, taxation on undisclosed inc...
CA, CS, CMA : Explore Section 12(e) of the Partnership Act 1932 and its implications on sharing firm financials with legal heirs. Detailed analy...
Company Law : General Circular No. 2/2016 Reference is invited to General Circular No. 13/2013 wherein, in paragraph 2, it has been clarified...
Corporate Law : For the purposes of the proviso to sub-section (1) of section 58 of the Act, where the firm has been converted into limited liabil...
Corporate Law : Clarifications have been sought on whether a trust or a trustee representing a trust in the case of "Real Estate Investment Trust"...
Corporate Law : Maharashtra Government has vide Notification No. No IPA. 2012/329/CR 59/Desk-1 Dated 25.09.2013 has doubled the fees for partnersh...
माननीय सुप्रीम कोर्ट ने इनकम टैक्स की संशोधित धारा ४५(४) को संवैधानिक करार देते हुए फर्मों द्वारा प्रापर्टी डील के समय कुछ पार्टनर रिटायर कर नए पार्टनर लाने की प्रक्रिया को प्रापर्टी सेल मानते हुए उस पर विभाग द्वारा टैक्स लगाए जाने को वाजिब ठहराया है और इस प्रकार हाईकोर्ट और ट्रिब्यूनल के निर्णय को […]
Learn what a partnership deed is and how to create one. Get all the information you need to draft a solid partnership agreement.
Md. Wasim Vs Bengal Refrigeration and Company (Calcutta High Court) The partnership deed containing the Arbitration Clause has not been disputed by the respondents. It is also not in dispute that it is an unregistered partnership deed. The objection of the respondents is in respect of the bar contained under Section 69 of the Act […]
Liability of a partner for acts of the firm. Every partner is liable, jointly with all the other partners and also severally, for all acts of the firm done while he is a partner.
A plain reading of Section 42 (c) of Indian Partnership Act, 1932] implies that subject to the contract to contrary, a firm is dissolved by death of a partner
There cannot be a service provider – service recipient relationship between a partner and partnership firm when a partner discharges his duties as a partner pursuant to deed of partnership. Hence no service tax is payable on the activities performed by the respondent in the capacity of partner to the firm.
Learn the step-by-step procedure for converting a partnership firm into a limited liability partnership (LLP) and ensure a smooth transition.
Understanding the tax implications of transferring a partners share in a partnership firm. Learn about the rules and regulations surrounding income tax on partnership transfers.
Article explains Steps to be followed for Conversion of Proprietorship concern into Partnership Firm, Steps for transferring unutilised ITC to the partnership firm from proprietorship, Documents required for incorporating a partnership firm and Documents required for Certificate of Registration of Partnership. Steps to be followed for Conversion of Proprietorship concern into Partnership Firm 1. Drafting […]
Recent change in Finance Act 2021 in Section 45(4) and Section 9B will have far reaching impact on taxability of firm and other specified entities. We through, a series of articles, wish to discuss various issues. Reconstitution of Specified Entity – Firm, AOP, BOI- Liable for tax u/s 45(4) and 9B of ITA -Will impact […]
