A and B are equal partners in a firm On 1 January 2018 then capital respectively are Rs 13000 and Rs 11000. They admit C a partner for 1/4 share of the firm.this new partner brought his capital on the basis of the combined capital of A & B adjust old partner capital account according to the new profit sharing ratio.
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Tax Deducted at Source (TDS) is a system introduced by Income Tax Department, where person responsible for making specified payments such as salary, commission, professional fees, interest, rent, etc. is liable to deduct a certain percentage of tax before making payment in full to the receiver of the payment.
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