A company should not have any assets or liabilities for applying under FTE. What if there is a computer, cash etc in the balance sheet, could that be sold off to the directors or something else could be done.
praveen (Chartered Accountant) (6971 Points)
18 August 2011A company should not have any assets or liabilities for applying under FTE. What if there is a computer, cash etc in the balance sheet, could that be sold off to the directors or something else could be done.
CS Bijoy
(Expert)
(6394 Points)
Replied 19 August 2011
In case of FTE company should not have any asset in the balance sheet and if any should be distributed among the member.
So distribute and apply for FTE..
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