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state the maximum number of person allowed to carry on a banking business in partenership

Posted by Nikki Thakur Nikki Thakur 4 years, 1 month ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 4 years, 1 month ago

The new Companies Act 2013 has prescribed the maximum number of members in case of a partnership firm should not be more than 100 in case of partnerships. As per the previous Companies Act 1956, the maximum limit in case of partnerships was 10 and 20 for banking business and other businesses respectively.

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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