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Karta be partner ??

Sandeep (student) (216 Points)

02 March 2015

The firm consists of A,b,c,d. Mrs.A is Karta of A(HUF Consisting b & c) Now can we take Mrs.A(Karta) as a Partner in Firm ???? Pls note:- A(Widow)= Mother of B & C D=Aunt of B & C All 4 are Relative holding pattern = A(Huf) 60%; A(Individul capacity) 10%; B 10%; C 10%; D 10%: Further Comments will be Noted,Appreciated & Dealt Suitably. Dear Experts, i hope you would TRY Replying me to deal this Assignment. Thanks in Advance.

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4 Replies

CA. Abhishek K. Pandey (Manager (Advance)) (901 Points)
Replied 03 March 2015

A woman can't be Karta in normal course.

Are you sure, there is no major male member?

The relation of partnership arises from contract and not from status; and, in
particular, the members of a Hindu undivided family carrying on a family business as
such, or a Burmese Buddhist husband and wife carrying on business as such are not
partners in such business.

So, it depends whether there is such a contrat between them or not.

Sandeep (student) (216 Points)
Replied 03 March 2015

In my case Mrs.A widow, my assignment is to advice them. I planned their business structure. I need to make a partnership deed if every thing goes on well.