Limit of Cash Withdrawal Partners
Mukesh Kumar Sharma (Manager) (122 Points)
10 January 2018
What's the limit cash withdrawal limit for partners from partnership firms.
4 Replies
Dipanshu arora
(CA Final Student)
(418 Points)
Replied 10 January 2018
As per act there is no such withdrawal limit but one can refer to deed to determine partners limit.
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5229 Points)
Replied 10 January 2018
There is No Limitation Regarding Withdraw of Cash by partner in Partnership Firm, it will be like a loan to partner by firm.
C R RADHAKRISHNAN
(ACCOUNTANT)
(210 Points)
Replied 27 May 2019
individual cash balance as per balancesheet Rs.40 lakhs, Can we transfer to parnership concern for Rs.38 lakhs by cash on various dates.
C R RADHAKRISHNAN
(ACCOUNTANT)
(210 Points)
Replied 27 May 2019
individual cash balance as per balancesheet Rs.40 lakhs, Can we transfer to parnership concern for Rs.38 lakhs by cash on various dates.
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