Repayment of capital to partner

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2014 i have a client partnership firm have 2 partner now i want to know how dissolve the partnership firm and give capital share to partner (i.e. 1.25 cr)
my qry is will bank loan for this purpose?

CA PRIYUL SHAH

CA PRIYUL SHAH (Expert)
Follow

09 August 2014 Transfer net assets in capital ration and draft dissolution deed.

Rupesh Jain

Rupesh Jain (Expert)
Follow

09 August 2014 pls make the dissolve deed of partner ship firm. it is better to make payment through bank.

Upgrade to CAclubindia Pro. Subscribe Now!

CA UMESH DULAL

CA UMESH DULAL (Expert)
Follow

09 August 2014 prepare the account to the date of dissolution, make dissolution deed, transfer the balance in respective partner capital account.

Bank will not fund such payment.