30 November 2022
I am a partner and CEO of a Private limited company and also a partner in a partnership firm. Can I raise an invoice through my partnership firm for services rendered to the Private limited company, instead of recieving a salary from the PRivate Limited company?
30 November 2022
If the service rendered is in individual capacity, then you cannot; otherwise a contract needed for the services required by company in favor of the firm.
30 November 2022
Thank you Sir. I can have a contract written between the partnership company and the private limited company for the services rendered by me to the private limited company.
01 December 2022
Caution. * The object of the partnership, as per the partnership deed, should have such rendering of service. * Resolution of partners required permitting you to enter into such service with the Pvt Ltd company. * You should not be a 'working partner' ,as per the partnership deed, in the partnership firm. * Written contract , in stamp paper of requisite value, is necessary. * Being a related party transaction, the Pvt Ltd company need to pass a resolution to approve the service. * If the services are professional, 'ethics' of the respective profession needs to be checked.
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