Information required to be furnished in terms of clause (e) to notes appended to form of balance-sheet prescribed in the Schedule

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....rescribed in the Schedule In cases where the capital account of each partner is maintained at a constant figure, or in other words where the capital of the partner is fixed, this should be shown under "Investment". Similarly, in other cases where the capital is not fixed or not specified by the partnership deed, if any, and all transactions between the partner and the firm are merged in a single ....

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....alance-sheet of the company as per the last authenticated balance-sheet of the firm. One of the requirements is to disclose the share of each partner in the balance- sheet of the company. This point is not free from doubt as it can mean either the share of each partner in the capital of the firm or share of each partner in the profit of the firm. It is, however, felt that the preferred interpreta....