How much capital to show in partnership deed ?
This query is : Resolved
13 July 2013
Hello everyone,
one of my client started a restaurant on 01/7/2013 in partnership. A brought Rs.10 lacs and Mr. B brought in Rs.10 lacs. Both will share profits equally.
Now i have to draft their partnership deed.
My question :
should i show their capital as 20 lacs total or show less capital because stamp duty will be more if i show more capital ?
waiting for the views of the experts.
one of my client started a restaurant on 01/7/2013 in partnership. A brought Rs.10 lacs and Mr. B brought in Rs.10 lacs. Both will share profits equally.
Now i have to draft their partnership deed.
My question :
should i show their capital as 20 lacs total or show less capital because stamp duty will be more if i show more capital ?
waiting for the views of the experts.
14 July 2013
Draft as below :
.
The both the parties to the agreement will bring capital as and when required as mutually agreed between them.
.
Pay the highest stamp duty prevalent in your state to cover the defaulters in future.
.
The both the parties to the agreement will bring capital as and when required as mutually agreed between them.
.
Pay the highest stamp duty prevalent in your state to cover the defaulters in future.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Filing of Form 10BB instead of Filing Form 10B
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
