Partnersip firm

This query is : Resolved

DEEPAK GOYAL (Querist)
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05 September 2011 1. What is the limit for a Partner to introduce Capital in Cash?

2. Can a partner introduce his fixed Assets like laptop, vehicle, mobile etc. as a capital of firm. if yes then what proofs are necessary.

Thanks'

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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03 October 2011 There is no limit in bringing in the cash as Partner's capital contribution

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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03 October 2011 Yes, the partner can bring the laptop, vehicle, mobile etc as asset as capital contribution,

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CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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03 October 2011 In the above case, the bill of the item plus an agreement signed by all partner for the same need to be attached in the supporting that they are agree for the introduction of the following assets as capital contribution