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Huf - karta as new partner in existing partnership firm

Mihir (Proprietor) (37 Points)

28 August 2015

There is one Partnership Firm constituted before 1 year with 3 partners (Individuals)

Now One HUF - Karta wants to enter in Partnersip firm as a Partner.

Is it Possible to become a Partner for HUF - Karta in Partnership Frim?

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3 Replies

Mihir (Proprietor) (37 Points)
Replied 01 September 2015

Originally posted by : Mihir
	There is one Partnership Firm constituted before 1 year with 3 partners (Individuals) Now One HUF - Karta wants to enter in Partnersip firm as a Partner. Is it Possible to become a Partner for HUF - Karta in Partnership Frim?

Kavk Sn (12 Points)
Replied 22 December 2015

Yes. the income be treated as individual's income.

S S Dahale ( Agri and business) (439 Points)
Replied 17 April 2016

Once a induction of HUF as partner ( signed by its karta) , being 4th partner comes into force , either by introducing finance ( it should be ac payee cheque by HUF), the profit or loss so genearted will also be part of HUF income ,( as a partner )at the same time coparcner and memeber of HUF has No role to play or demand separate profit or loss from that partnership firm.