Dissolving a partnership firm entails ceasing to do business under the partnership firm’s name. All liabilities are finally satisfied in this situation by selling assets or transferring them to a specific partner, resolving all accounts with the partnership firm.
Any profit or loss is distributed to partners in accordance with the profit-sharing ratio agreed upon in the […]
Partnership Deed is a written document of rules and Regulations between individuals who wish to start a business and share profit and losses.Various terms such as asserts, admission of a new partner, salary, profit/loss percentage all are mentioned on it. The minimum age to become a partner and open a business is 18 […]
The phrase ‘remunerations’ includes any salary, commission, bonus, or remuneration (by whatever name called) that is paid to partners. The partners who actively contribute to the operations of the Partnership are eligible to get remuneration. Much like an employee, these partners receive rewards for their work monthly.
We expect a return wherever we put our efforts. The […]
A Partnership deed is basically a document that outlines in details the rights and responsibilities of all parties to a business operation. It was designed to guide the partners in the conduct of the business and avoid unnecessary misunderstanding, harassment, and unpleasantness among the partners in the event of any dispute. The […]
