What is an unlimited company?

An unlimited company is a company having no limit on the liability of its members. The members of such a company are liable to the full extent of their fortunes to meet the obligations of the company by contributing to its assets in the event of its being wound up. Thus, such a company does not carry the benefit of limited liability which is available to the members of all the other types of company. So far as the risk of the members is concerned, there is no difference between a partnership firm and an unlimited company.
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Video : Gift from Relative Who is Foreign Citizen Require Approval !

It seems to be strange , but for many specified persons in India are prohibited to accept gifts , donation or contribution from foreign...

How A Private Company Turn Public Substantially Interested Company Without any IPO

A public substantially interested company is defined under Income Tax Act and it gets many benefit under Income tax Act in  comparison to a...

Severe Clamp on Liberalised Remittance Scheme !No More Buying Property Aborad by Residents !

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Company Can Follow Mercantile And Cash System of Accounting At The Same Time ?

An assessee is free to adopt an accounting method -mercantile or cash - or even a method of accounting which is regularly employed by...

Calculator For Fair Market Value (FMV) for Share Premium Case !

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MAT Credit : 2 Tax Planning Tips For Asst Yr 2013-14 !

MAT or Minimum Alternate Tax is a tax which has to be computed by all companies as per the provision u/s 115JB of the...

MAT Credit u/s 115JAA Simplified !

MAT credit u/s 115JAA is linked to section 115JB which deals with Minimum Alternate Tax . MAT  is a tax payable u/s 115JB of...
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MCA News : New Form 18 & DIN Application Introduced

Ministry of corporate affairs has introduced new form 18 which is for location of registered office and new application for allotment of Director’s Identification...
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120 Service Tax Accounting Codes Chart- Effective From Dec’ 2012

120 service tax accounting codes  are once again notified to be used from December 2012 onward for payment and registration time. Only five months ago ,...

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