partnership firm i
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2010
whether partnership firm can be a partner of the another partnership firm
02 August 2010
A firm cannot become partner of another firm but a company can become partner of a firm.
02 August 2010
Under partnership law, a partnership firm is not a legal entity, but only consists of individual partners. It is not a distinct legal entity apart from the partners constituting it, except for the purpose of Tax laws. Therefore, a partnership firm can not become partner in another partnership firm!!
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