A proprietor want to become a partner in other firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 February 2012
Dear sir
I have a proprietorship(individual) firm in Faridabad.
my son has also a proprietorship (individual) firm in U.P.
now we (I & my son) want to open a Third Partnership
Firm in U.P. Is there is any objection as per income tax law.
I have a proprietorship(individual) firm in Faridabad.
my son has also a proprietorship (individual) firm in U.P.
now we (I & my son) want to open a Third Partnership
Firm in U.P. Is there is any objection as per income tax law.
21 February 2012
No, however you can do through HUF as well
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