HELLO FRIENDS, PLS. TELL ME MY CLIENT DOES THE PROPERTY DEALER BUSINESS AND EARNS ONLY COMMISSION INCOME AND NO SALES AND PURCHASES ARE DONE.
CAN THEY MAKE A PARTNERSHIP FIRM.
CAN PARTNERSHIP FIRM DO THE BUSINESS OF GENERAL COMMISSION AGENTS.
IS THERE IS ANY PROBLEM.
PLS. HELP ME.
THANKS.
Yes, they can form Partnership Firm maintained under section 59 of the Indian Partnership Act 1932 by executing Partnership deed either registered or unregistered.
Yes you can form partnership firm for general commission agent but service tax registration is necessary if total proceeds exceeds Rs. 10 Lac in current fin year / previous fin year.
SSGS and Associates
Chennai
CA Inter
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Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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