22-03-2014, 04:43 PM
INDIAN PARTNERSHIP ACT 1932
PARTNERSHIP ACT.ppt (Size: 215 KB / Downloads: 91)
Partnership
is the relation between persons who have agreed to share the profits of a business carried on by all or any one of them acting for all
Essential features of Partnership
Association of two or more persons
Result of an agreement
Agreement to carry some business
Sharing of profits
Mutual agency
Partners
Persons entered into partnership is individually called Partners
Firm
Partners collectively are called
no legal existence with out partners
can’t possess property
can’t sue or be sued by other party
taxation point of view,assessable separately
Admission of new members
No new members ( partners) can be admitted to the existing partnership with out the consent of all the other members
Details to be given in the application
four names of the proposed company
should indicate the main object of the company
justification for the names selected
name and address of the promoters
authorized capital of the proposed company
main objects of the company
names of other group companies