TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 49 of Indian Partnership Act: Firm's Property Settles Joint Debts First, Then Distributed to Partners' Separate Debts.</h1> Section 49 of the Indian Partnership Act, 1932, addresses the payment of debts upon the dissolution of a partnership firm. It stipulates that the firm's property must first be used to settle the firm's joint debts. Any remaining surplus is then allocated to each partner to pay their separate debts or distributed to them. Conversely, a partner's separate property should first cover their personal debts, with any surplus used to pay off the firm's debts.
TaxTMI 
TaxTMI 
