Is there any limit in the rate that can be charged on Royalties? Also, is there any minimun or maximum time limit for which a royalty agreement can be made?

Dear All,

My query is regarding a partnership firm engaged in MANUFACTURING ACTIVITY having two partners.
The Facts are as under:

Now one of the partner "B" wants to discontinue this partnership. Hence the other partner "A" has agreed to this and wants to continue this business under the same name and wants to admit two new partners and retire partner "B" by paying a lump sum amount for his capital and goodwill.

My query is :

1) From Accounting Point of view:
What shall be the accounting effects of the above? How will the lump sum payment to partner " b" booked in the accounts books and how will the new capital introduced by the new partners shown in the books?

2) From Law point of view:

What happens to the existing :
a) Excise Registration?
b) Vat Registration?
c) Sales Tax Regstration?
d) Pan of the firm?
e) Import Export Licence?

Is new registration required for the above or what have to be done to intimate the respective authorities to intimate the change in constitution of the firm?

Please can anyne help me on above ASAP?

Thanks in advance.....

Alpa Doshi.

wt r the imp areas where w hu 2 through our light on law i mean imp sections

What is the procedure for registration under micro, small, medium enterprises development act come into force in October 2006? Please give details about where to apply also..

Dear All,

My query is regarding a partnership firm engaged in MANUFACTURING ACTIVITY having two partners.
The Facts are as under:

Now one of the partner "B" wants to discontinue this partnership. Hence the other partner "A" has agreed to this and wants to continue this business under the same name and wants to admit two new partners and retire partner "B" by paying a lump sum amount for his capital and goodwill.

My query is :

1) From Accounting Point of view:
What shall be the accounting effects of the above? How will the lump sum payment to partner " b" booked in the accounts books and how will the new capital introduced by the new partners shown in the books?

2) From Law point of view:

What happens to the existing :
a) Excise Registration?
b) Vat Registration?
c) Sales Tax Regstration?
d) Pan of the firm?
e) Import Export Licence?

Is new registration required for the above or what have to be done to intimate the respective authorities to intimate the change in constitution of the firm?

Please can anyne help me on above ASAP?

Thanks in advance.....

Alpa Doshi.

HAVE THERE BEEN ANY RECENT UPDATES IN THE SEBI GUIDELINES AS WELL AS IN THE FEMA ACT.AMENDMENTS UPTO WHICH DATES WOULD BE REQUIRED FOR MAY 2008 FINAL EXMAS ... PLEASE HELP

Please throw some light on below cases
a) Can Income from my software consultancy (professional fees) can be shown in HUF account.

b) Can Software Selling income be shown in HUF account

c) Can income from rent and also income from selling products both can be shown in HUF account

Regards
Rajesh Nagda
rajesh.nagda@gmail.com

What do you mean by DLC Rate in Real Estate Market ?

The company which has been in existence for less than three financial years not to be allowed to contribute any such amount to political parties.

ex: 'A' Ltd incorporated on 2nd feb 2003. on 1st nov.2005, can the company donate amount to political parties?

i think it can.because the company was in existence for more than three financial years
(financial year 2002-2003
financial year 2003-2004
financial year 2004-2005).

is it correct.

I am making cash payment of Rs 4000 as rent then receipt of rent should contain revenue stamp of Rs. 1 with signature on revenue stamp.
Also tell me the Act where I can find the related provision.