CA Services for Partnership Filings in Chennai
A partnership is a legal entity where each partner has his or her own share in the business. It can have any name, provided that it doesn't infringe on another company's trademark. These companies don't have to file annual accounts and don't need to pay taxes. In India, the taxation system requires all companies to file annual returns and a partnership has no such requirement. The owner of a firm is determined by the deed, which explains the ownership of the firm, profit sharing ratio and the rights of the Partner.
A CA's main task is to help businesses maintain records and summaries financial transactions. It's important to keep accurate financial records and keep them up to date. The process of preparing an income statement is only possible when the company's financials are correct. The CA helps in maintaining the common book of accounts (P&L), sale book, receipt book, and balance sheet.
CA services for partnership filings in chennai Para: LLP is easy to transfer. Changing partners or a partnership will not affect the ownership of the LLP. It is a separate legal entity and the Partners can change the partners at anytime. The LLP is an artificial judicial person. Therefore, the partners can sell or acquire property in the name of the company.
Thanks and Regards,
CS Team
Website: https://companymaster.in
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