CA Foundation Exam > CA Foundation Notes > Business Laws for CA Foundation > PPT - Registration and Dissolution of firm - 2
PPT - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation PDF Download
| Download, print and study this document offline |
Please wait while the PDF view is loading
Page 1 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Page 2 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Consequences Of Dissolution Personal profits Earned After Dissolution Settlement of Partnership Accounts Extent of Continuing Authority Till Dissolution Right To Enforce Winding Up Continuing Liability Till Public notice Page 3 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Consequences Of Dissolution Personal profits Earned After Dissolution Settlement of Partnership Accounts Extent of Continuing Authority Till Dissolution Right To Enforce Winding Up Continuing Liability Till Public notice Liability till Public Notice • For Acts Done after Dissolution • Till Public Notice Not given All Partners Liable • Estate of Deceased Partner • Estate of Insolvent Partner • Sleeping or Dormant Partner Partners Not Liable Page 4 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Consequences Of Dissolution Personal profits Earned After Dissolution Settlement of Partnership Accounts Extent of Continuing Authority Till Dissolution Right To Enforce Winding Up Continuing Liability Till Public notice Liability till Public Notice • For Acts Done after Dissolution • Till Public Notice Not given All Partners Liable • Estate of Deceased Partner • Estate of Insolvent Partner • Sleeping or Dormant Partner Partners Not Liable Right to Enforce Winding Up Surplus Distributed Among Partner Firm’s property to be applied in payment of Debts Page 5 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Consequences Of Dissolution Personal profits Earned After Dissolution Settlement of Partnership Accounts Extent of Continuing Authority Till Dissolution Right To Enforce Winding Up Continuing Liability Till Public notice Liability till Public Notice • For Acts Done after Dissolution • Till Public Notice Not given All Partners Liable • Estate of Deceased Partner • Estate of Insolvent Partner • Sleeping or Dormant Partner Partners Not Liable Right to Enforce Winding Up Surplus Distributed Among Partner Firm’s property to be applied in payment of Debts Continuing Authority After Dissolution Wind Up The Affairs Of Firm Complete Unfinished Transactions PendingRead More
|
51 videos|110 docs|57 tests
|
FAQs on PPT - Registration and Dissolution of firm - 2 - Business Laws for CA Foundation
| 1. What is the process of registering a firm? |  |
Ans. The process of registering a firm typically involves the following steps:
1. Select a suitable name for the firm and ensure it complies with the rules and regulations of the relevant authority.
2. Prepare the necessary documents, such as the partnership deed, which outlines the terms and conditions of the partnership.
3. Complete the registration form and submit it along with the required documents to the appropriate authority.
4. Pay the prescribed fee for the registration process.
5. Once the application is reviewed and approved, the firm will be issued a registration certificate, confirming its legal existence.
| 2. What are the documents required for registering a firm? | |
Ans. The documents required for registering a firm may vary depending on the jurisdiction, but typically include:
1. Partnership deed: This document outlines the terms and conditions of the partnership, including the rights, duties, and responsibilities of the partners.
2. Proof of address: Each partner must provide proof of their residential address, such as a utility bill or bank statement.
3. Identity proof: Each partner must provide a valid identity proof, such as a passport or driver's license.
4. PAN card: The firm must obtain a Permanent Account Number (PAN) card from the Income Tax Department.
5. Registration fee: The required fee for the registration process must be paid.
| 3. Can a firm be dissolved? If yes, what is the process of dissolution? | |
Ans. Yes, a firm can be dissolved. The process of dissolution typically involves the following steps:
1. Mutual decision: All partners must agree to dissolve the firm and decide on the method of dissolution.
2. Informing authorities: The firm must inform the relevant authorities, such as the Registrar of Firms, about the decision to dissolve.
3. Settling liabilities: The firm must settle all its outstanding liabilities, including debts, loans, and pending payments.
4. Distribution of assets: After settling liabilities, the remaining assets of the firm are distributed among the partners as per the partnership deed or mutual agreement.
5. Cancellation of registration: The firm's registration is cancelled by the Registrar of Firms once all the necessary formalities are completed.
| 4. Are there any legal consequences of not registering a firm? | |
Ans. Yes, there can be legal consequences of not registering a firm. Some of the potential consequences include:
1. Lack of legal recognition: An unregistered firm does not have legal recognition and may face difficulties in conducting business or entering into contracts.
2. Limited rights and protections: Partners in an unregistered firm may have limited legal rights and protections compared to those in a registered firm.
3. Inability to sue or be sued: An unregistered firm may not be able to sue or be sued in a court of law, making it challenging to resolve disputes.
4. Tax implications: Unregistered firms may face tax-related issues, as they may not be eligible for certain tax benefits or exemptions available to registered firms.
5. Limited access to banking facilities: Banks and financial institutions may be hesitant to provide loans or other banking services to unregistered firms, affecting their financial operations.
| 5. Can a firm change its name after registration? If yes, what is the process? | |
Ans. Yes, a firm can change its name after registration. The process typically involves the following steps:
1. Approval of partners: All partners must agree to change the firm's name and decide on the new name.
2. Amendment of partnership deed: The partnership deed must be amended to reflect the new name of the firm.
3. Application for name change: The firm must submit an application for name change to the appropriate authority, along with the necessary documents and fees.
4. Approval and documentation: Once the application is reviewed and approved, the firm will be issued a new registration certificate reflecting the updated name.
5. Update business records: The firm must update its business records, including bank accounts, licenses, and permits, to reflect the new name.
Related Exams
About this Document
|
1.2K Views |
|
4.80/5 Rating |
|
Nov 24, 2024 Last updated |
Document Description: PPT - Registration and Dissolution of firm - 2 for CA Foundation 2024 is part of Business Laws for CA Foundation preparation.
The notes and questions for PPT - Registration and Dissolution of firm - 2 have been prepared according to the CA Foundation exam syllabus. Information about PPT - Registration and Dissolution of firm - 2 covers topics
like and PPT - Registration and Dissolution of firm - 2 Example, for CA Foundation 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for PPT - Registration and Dissolution of firm - 2.
Introduction of PPT - Registration and Dissolution of firm - 2 in English is available as part of our Business Laws for CA Foundation
for CA Foundation & PPT - Registration and Dissolution of firm - 2 in Hindi for Business Laws for CA Foundation course.
Download more important topics related with notes, lectures and mock test series for CA Foundation
Exam by signing up for free. CA Foundation: PPT - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation
Description
Full syllabus notes, lecture & questions for PPT - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation - CA Foundation | Plus excerises question with solution to help you revise complete syllabus for Business Laws for CA Foundation | Best notes, free PDF download
Information about PPT - Registration and Dissolution of firm - 2
In this doc you can find the meaning of PPT - Registration and Dissolution of firm - 2 defined & explained in the simplest way possible. Besides explaining types of
PPT - Registration and Dissolution of firm - 2 theory, EduRev gives you an ample number of questions to practice PPT - Registration and Dissolution of firm - 2 tests, examples and also practice CA Foundation
tests
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Extra Questions
,Objective type Questions
,Free
,Important questions
,Previous Year Questions with Solutions
,Exam
,PPT - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation
,Sample Paper
,past year papers
,study material
,PPT - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation
,Summary
,video lectures
,shortcuts and tricks
,Viva Questions
,ppt
,mock tests for examination
,practice quizzes
,MCQs
,PPT - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation
,Semester Notes
;
Additional Information about PPT - Registration and Dissolution of firm - 2 for CA Foundation Preparation
PPT - Registration and Dissolution of firm - 2 Free PDF Download
The PPT - Registration and Dissolution of firm - 2 is an invaluable resource that delves deep into the core of the CA Foundation exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the PPT - Registration and Dissolution of firm - 2 now and kickstart your journey towards success in the CA Foundation exam.
Importance of PPT - Registration and Dissolution of firm - 2
The importance of PPT - Registration and Dissolution of firm - 2 cannot be overstated, especially for CA Foundation aspirants.
This document holds the key to success in the CA Foundation exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
PPT - Registration and Dissolution of firm - 2 Notes
PPT - Registration and Dissolution of firm - 2 Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to PPT - Registration and Dissolution of firm - 2.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, PPT - Registration and Dissolution of firm - 2 Notes on EduRev are your ultimate resource for success.
PPT - Registration and Dissolution of firm - 2 CA Foundation Questions
The "PPT - Registration and Dissolution of firm - 2 CA Foundation Questions" guide is a valuable resource for all aspiring students preparing for the
CA Foundation exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study PPT - Registration and Dissolution of firm - 2 on the App
Students of CA Foundation can study PPT - Registration and Dissolution of firm - 2 alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the PPT - Registration and Dissolution of firm - 2,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of PPT - Registration and Dissolution of firm - 2 is prepared as per the latest CA Foundation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup