"Assessment when business of partnership firm is taken over by a partner” plus 1 more

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Assessment when business of partnership firm is taken over by a partner Posted: 20 Sep 2010 08:16 PM PDT X, Y and Z are three partners of a partnership firm. Y and Z retired from the partnership with effect from November 30, 2009. X took over the business and continued as proprietor. The stock-in-trade as at November 30, 2009 was valued at average purchase price for settlement of accounts, which was the system consistently followed by partnership firm. Under which provisions, the income of partnership firm for the period April 1, 2009 to March 31, 2010 shall be assessed for the assessment... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

BIOMETRIC CARDS FOR MUTUAL FUND AGENTS LIKELY Posted: 20 Sep 2010 08:06 PM PDT Market regulator SEBI has ushered in a major overhaul of the way mutual funds are sold with the introduction of biometric cards and stringent licensing norms for distributors to weed out agents indulging in frauds. Following directions from SEBI, the mutual fund industry body AMFI has asked all fund houses in the country to comply with `Know-Your-Distributor (KYD)' norms before the grant or renewal of registration of distributors. Agents would be required to get biometric cards that would help... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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