RBI NBFC
Querist : Anonymous
Querist : Anonymous
For NBFC is there any minimum capital required for registeration ?
I am floating a company with friends and relative and maximum amount we can contribute is 10 lacs, so can you advice us what can be done ?
Incase if we are unable to register as NBFC due to low capital what option we have ?
Can we make a investment trust ? again what will be the cons and prons
No idea about Investment Trust
Querist : Anonymous
Querist : Anonymous
What is the solution according to you if I want to do share trading with someone ?
and in this business
"Realtive as a Partner"
makes the issue highly speculative.
*
Open one more trading account in your relative's name and invest his funds thru
his account only.
*
As you are relative to each other," rely" upon each other, by entering into an oral understanding for profits and losses.
*
The share tradings can be stopped in the adverse circumstances easily. without
burdening the relationship.
*
May it remain as live as it is today.
*
Querist : Anonymous
2) as per your advice, we have decided to trade in our own account and distribute the profits earned in 1:1 ratio also the losses but then how will we pass the accounting entries and taxation. For example, at the end of the year, in my account there is a profif of 10 lacs and in his account profit of 20 lacs, so total profit is 30 lacs.
He is suppose to give me 5 lacs, now the Q is how willhe give me 5 lacs and what will be the accounting entry.
Generally we have seen that whenever relatives come together to join their hands in business either they have achieved wonderful targets or they have miserably failed.
The relationship flourished as the profits have grown up. However, at the time when they suffered losses, their relationship has also broken.
I think you will not take it otherwise.
For your second query, I have given some clues, which could be understood in the light of a long time association.
Right now I am unable to answer here directly, but if there is a will, we shall find out the ways also.
Querist : Anonymous
Sir, if anything cant be said directly here , you can PM ( private message) me.
Click here to login now
Similar Resolved Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
