Indian Partnership Act, 1932
Section - 6 - Mode of determining existence of partnership
Mode of determining existence of partnership
6.
In determining whether a group of persons is or is not a firm, or whether a person is or is not a partner in a firm, regard shall be had to the real relation between the parties, as shown by all relevant facts taken together.
Explanation 1 : The sharing of profits or of gross returns arising from property by persons holding a joint or common interest in that property does not of itself make such persons partners.
Explanation 2 : The receipt by a person of a share of the profits of a business, or of a payment contingent upon the earning of profits or varying with the profits earned by a business, does not of itself make him a partner with the persons carrying on the business;
and in particular, the receipt of such share or payment-
| (a) | - | by a lender of money to persons engaged or about to engage in any business, |
| (b) | - | by a servant or agent as remuneration, |
| (c) | - | Google Play store
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