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...

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FMV or Fair Market Value of share which is issued on  premium by a closely held company is required to be computed to compare...

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