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...
Any seven or more individuals associated for any of the objects mentioned in memorandum of association, may subscribe their names to a Memorandum of Association and file it along with a copy of the regulations with the Registrar for registration of the association as a society under this Act. OBJECT OF THE SOCIETY/ CLUB: The […]
Article explains Areas in which Partnership agreements can be formed, Benefits of getting the partnership firm Registered, Requirements for Partnership Firm Registration and Documents required for Partnership Firm Registrations. A Partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, […]
A partnership firm is an association of people who join together for a business purpose and to share the profits. All partnership firms are regulated by the Partnership Act, 1932. In this article, we are sharing the procedure for registering a partnership firm in Haryana.
The shifting of business of traditional Partnership Firms into Limited Liability Partnership has increased in recent years. The reason behind this is that the LLP have the following feature which traditional Partnership Firms do not have: 1. Liability of Partners is limited; 2. Perpetual Succession and Continuity; 3. No limit on Number of Partners; 4. […]
There are some provisions of The Indian Partnership Act, 1932 that should be born in mind while we prepare partnership deed. Importance of these provisions can not be undermined since partners often want to enter into enforceable legal relationship. On analyzing these provisions we can conclude that these can be classified in this way – […]
Partnership firm comprises two or more person (partners) coming together to carry on the business to share profit and to run the business collectively on mutually agreed terms and condition. These firms are governed by the Indian Partnership Act, 1932. Section 4 of Indian Partnership Act,1932 defines “Partnership” as the relation between persons who have […]
Registration of a business as a Firm or a Company is as important as developing the right product or service that can cater to the needs of business and deliver growth in years to come. In the world of business, the two terms – firm and company, are often used interchangeably but this choice can […]
Understand the maximum limits of interest and remuneration to partners under the Income Tax Act. Learn how to claim deductions and ensure compliance.
Kachhi Heritage Vs ACIT (ITAT Pune) Grounds of Appeal 1. On the facts and in the circumstances of the case and in law the Learned Assessing Officer erred in treating the status of the partnership firm as AOP for the reason that partnership deed is executed on an inadequate stamp paper. Your appellant submits that […]
(I) Procedure to Form a New Partnership Firm:- Rules Prescribed in the Indian Partnership Act, 1932:- Under Section 58 of the Act, a firm may be registered at any time (not merely at the time of its formation but subsequently also) by filing an application with the Registrar of Firms (the District Registrar, Registration and […]
