Dear Mumbers
Please any mumbers clear my qus, This is partnership firm partners want to withdrwal from company 15 Laks so how to withdrwal cash and Cash entry Limitation, Please reply to me
8 Replies
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 16 December 2009
There is No Limitation Regarding Withdraw of Cash by partner in Partnership Firm, it will be like a loan to partner by firm.
CA Abhiram Bharat.
(Assistant Manager Taxation)
(508 Points)
Replied 16 December 2009
withdraw wt ever u deem appropraiate, no limit as such,, the partner(s) standalone i.e. severely & jointly be liable for the same...
Mehul Pravinchandra Talati
(CA Practice )
(28 Points)
Replied 11 March 2016
Sir, Withdrawal of partner from partnership firm should NOT and NEVER be treated as loan to partner under Unsecured Loans. But it should be treated as regular withdrawal from partner and shown under capital account then it is allowed otherwise sec 269SS or 269 TT will be applicable.
Naveen
(Student)
(28 Points)
Replied 29 September 2016
Sir, can you please clarify my doubt.
i am doing job in partnership firm, i have a doubt in the matter of cash transaction for the partner's children school fee, but here my employer want to withdrew from his HUF account which is under the (partner's HUF account) unsecured loans.
my doubt is- is there any retrictions to withdrew cash from partner's HUF account?
please anyone carify my doubt.
thanks and
Regards,
Naveen Thatipamula
Naveen
(Student)
(28 Points)
Replied 29 September 2016
Sir, can you please clarify my doubt.
i am doing job in partnership firm, i have a doubt in the matter of cash transaction for the partner's children school fee, but here my employer want to withdrew from his HUF account which is under the (partner's HUF account) unsecured loans.
my doubt is- is there any retrictions to withdrew cash from partner's HUF account?
please anyone carify my doubt.
thanks and
Regards,
Naveen Thatipamula
chandra sekar
(Manager-Accounts)
(387 Points)
Replied 17 October 2016
one more doubt, is there any ceiling of withdrawing cash from the firm for a partner, like Rs 20,000/- u/s 40. or any amount can be drawn from firm for a partner?
kishore
(dao)
(24 Points)
Replied 12 May 2017
Is there any limit for a partner to withdraw cash from PARTNERSHIP FIRM. Please clarify.
K.KRISHNA RAO
SRI ANNAPURNA SAI SARASWATHI INDUSTRIES
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